KORE Wireless to launch $370 million credit facilities on Wednesday

By Sara Rosenberg

New York, Oct. 29 – KORE Wireless is set to hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch $370 million of senior secured credit facilities, according to a market source.

UBS Investment Bank is the lead on the deal.

The facilities consist of a $30 million five-year revolver, a $250 million seven-year first-lien term loan and a $90 million eight-year second-lien term loan, the source said.

Proceeds will be used to refinance existing debt and to fund an acquisition.

KORE Wireless, an ABRY Partners portfolio company, is an Alpharetta, Ga.-based provider of integrated software platform to enterprises to deploy, manage and optimize their IoT environments.

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