Wednesday, November 26, 2014

Boingo Lands $50 Million Credit Line

Boingo Wireless announced a new $50 million credit agreement with Bank of America Merrill Lynch and Silicon Valley Bank. Bank of America Merrill Lynch will serve as the sole lead arranger and sole bookrunner for the agreement.


“We are pleased with the support received from Bank of America Merrill Lynch and Silicon Valley Bank,” said Peter Hovenier, Chief Financial Officer of Boingo Wireless. “The $50 million facility, coupled with its $40 million accordion feature, strengthens our liquidity position at attractive rates. Paired with our strong balance sheet and cash flow prospects, the credit facility will provide us with flexibility to continue investing in our strategic growth initiatives.”

http://www.boingo.com

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