Birch Communications, an Atlanta, Ga.-based IP-based telecommunications and managed services provider to small- and medium-sized businesses, has secured a $77.5m debt financing.
The finance package consists of a senior term loan, a senior revolving credit facility, a tranche of subordinated debt, and a provision for up to a $7.5m leasing facility.
The senior term, revolver, and leasing facility components of the financing were led by Bank of America along with Silicon Valley Bank. The subordinated debt was provided by Kayne Anderson Mezzanine Partners, LP.
According to a written statement, the company intends to use the proceeds to repay outstanding indebtedness, and to continue to grow through acquisitions and expansion of its IP-network and current products and services.
Led by Vincent M. Oddo, president and CEO, and Edward James, CFO, Birch Communications provides managed communications and information technology services to a target market of small- and medium-sized businesses in select metropolitan areas within 38 states across the United States. Services include local and long distance voice, broadband Internet access, T1, PRI, bonded T1, mobile voice and data, e-mail, voicemail, prepaid, and other communications and information technology services.