Fusion readies launch of $620 million credit facilities for Thursday

By Sara Rosenberg

New York, Feb. 13 – Fusion is set to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $620 million of senior secured credit facilities, according to a market source.

Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and MUFG are the leads on the deal.

The facilities consist of a $50 million revolver, a $500 million first-lien term loan and a $70 million second-lien term loan, the source said.

Proceeds will be used to refinance debt in connection with the all-stock merger of Fusion and the Cloud and Business Services customers, operations and infrastructure of Birch Communications.

Fusion is a New York-based cloud services provider.

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