Syniverse plans new debt financing with Twilio investment

By Sara Rosenberg

New York, March 2 – Syniverse expects to get new debt financing in connection with an investment by Twilio Inc., according to an 8-K recently filed with the Securities and Exchange Commission.

Twilio, a cloud communications platform, has agreed to invest $750 million in Syniverse in exchange for common stock.

However, the investment is subject to, and will occur substantially concurrently with, the consummation of additional Syniverse debt financing and equity, and refinancing transactions.

Proceeds from the new debt, equity and Twilio investment are expected to be used primarily to repay amounts outstanding under Syniverse’s existing credit facilities and to pay transaction fees and expenses.

Closing is expected before the end of the year, subject to other customary conditions, including regulatory approvals.

The Carlyle Group will maintain its majority interest in Syniverse.

Syniverse is a Tampa, Fla.-based provider of technology and business services for the telecommunications industry.

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