Speedcast, a Houston, TX-based communications and IT services provider, closed on a new $350m USD Credit Facility.
PSP Investments Credit USA led the transaction, which was comprised of a $300 million Term Loan B and a $50 million Priority Revolving Credit Facility, both of which were privately placed with a select group of direct lenders.
The transaction recapitalizes the March 2021 equity investment by Speedcast’s owners, Centerbridge Partners, L.P., a private investment firm, and provides additional balance sheet capital for growth.
Led by Joe Spytek, Chief Executive Officer, Speedcast is a communications and IT services provider, delivering critical communications services to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. The company leverages its global network platform to provide fully connected systems that harness technologies and applications to transform what remote operations can achieve. With a comprehensive network, Speedcast enables pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms.
The company integrates differentiated technology offerings that provide smart ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience.
Speedcast serves more than 3,200 customers in over 140 countries.
FinSMEs
07/03/2022