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Q9 Networks seeks C$210 million credit facility led by TD Securities
By Sara Rosenberg
New York, April 7 - Q9 Networks Inc. is wrapping up a C$210 million five-year senior credit facility that is being left led by TD Securities, according to a market source.
The facility, which is oversubscribed, is hoped to allocate and close this week, the source said.
Tranching on the deal is a C$160 million term loan, a C$25 million delayed-draw term loan and a C$25 million revolver.
Proceeds will be used to refinance and upsize an existing credit facility. The additional funds are being obtained for growth capital.
In connection with this deal, the company is amending its existing roughly C$58.5 million of mezzanine debt so that it matures later than the new senior debt.
Q9 Networks is a Toronto-based provider of outsourced data centre infrastructure for organizations with mission-critical IT operations.
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