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Hibernia Closes $52.5M Refinancing

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1/17/2013
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SUMMIT, N.J. and DUBLIN -- Hibernia Networks, a provider of global capacity services, announced today that it completed a $52.5 million debt refinancing. The proceeds of the refinancing were used to pay off existing indebtedness and will provide incremental liquidity for growth and for working capital. The new lender group includes funds managed by affiliates of Fortress Investment Group LLC and Bridge Bank. “With this transaction, Hibernia has reduced its cost of capital considerably – a reflection of the successful execution of our business plan,” stated Lloyd Jarkow, CFO of Hibernia. “Hibernia is focused on continued growth and we are excited about the strategic value of our new lender relationships.” Hibernia Atlantic

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