Birch gets $75 million credit facility, $15 million subordinated debt

By Sara Rosenberg

New York, July 23 - Birch Communications closed on a new $75 million credit facility and $15 million of subordinated debt, according to a news release.

The facility consists of a $40 million senior term loan and a $35 million senior revolver.

There is a $20 million accordion feature.

Bank of America Merrill Lynch led the senior facility along with PNC Bank, and Kayne Anderson Mezzanine Partners LP provided the subordinated debt.

Proceeds were used to refinance existing senior and subordinated credit facilities and are also available to fund future acquisitions and continued network expansion.

Birch is an Atlanta-based IP-based telecommunications and managed services provider to small- and medium-sized businesses.

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