Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in secure and intelligent cloud communications, today announced that it has entered into a $100 million Senior Secured Credit Facilities Credit Agreement with Silicon Valley Bank, the bank of the world's most innovative companies and their investors. Silicon Valley Bank is serving as the issuing lender, swingline lender and lead arranger for the lending parties.
"We are delighted to have this opportunity to continue our partnership with Silicon Valley Bank and our lender group in support of Ribbon's overall business and capital strategy by expanding the capacity of our previous facility," said Daryl Raiford, Executive Vice President and Chief Financial Officer for Ribbon. "Completion of our expanded credit agreement enhances Ribbon's financial flexibility and better fits Ribbon's larger breadth as we drive merger integration activities to achieve our goals and create value for our shareholders, customers and partners."
"We are excited to continue our relationship as Ribbon's banking partner," said Robert Clouse, Director of Corporate Finance for Silicon Valley Bank. "We look forward to the opportunity to lead a financing arrangement that supports Ribbon's merger integration activities and growth as it continues its evolution as a global leader in real-time communications."
About Ribbon Communications
Ribbon Communications is a company with two decades of leadership in real-time communications. Built on world-class technology and intellectual property, the Company delivers intelligent, secure, embedded real-time communications for today's world. The Company transforms fixed, mobile and enterprise networks from legacy environments to secure IP and cloud-based architectures, enabling highly productive communications for consumers and businesses. With 64 locations in 27 countries around the globe, Ribbon's innovative, market-leading portfolio empowers service providers and enterprises with rapid service creation in a fully virtualized environment. The Company's Kandy Communications Platform as a Service (CPaaS) delivers a comprehensive set of advanced embedded communications capabilities that enables this transformation. To learn more, visit ribboncommunications.com.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at www.svb.com.