Infrastructure and Energy Alternatives pays down term loan

By Wendy Van Sickle

Columbus, Ohio, Nov. 15 – Infrastructure and Energy Alternatives, Inc. repaid borrowings under its term loan with proceeds of $80 million of equity transactions, according to a press release.

The company sold 80,000 shares of series B-3 preferred stock and 3,568,750 warrants to purchase its common stock to funds managed by the private equity group of Ares Management Corp. for $80 million.

Infrastructure and Energy Alternatives is an infrastructure construction company based in Indianapolis.

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