Intermedia Cloud wraps $345 million refinancing via revolver, term loan

By Marisa Wong

Los Angeles, April 5 – Intermedia Cloud Communications announced it completed a $345 million refinancing of its balance sheet by entering into a new revolving credit facility and term loan with some of its existing lenders.

The new facilities reflect an upsized term loan and extended maturity date in April 2029, according to a press release.

The company said the new term loan and new revolver grant it increased flexibility to invest in its business.

The company said the refinancing was made possible by its strong financial performance, including high growth in its revenue and profitability.

The new revolver and term loan were arranged by the capital markets team at Intermedia’s investment partner, Madison Dearborn Partners, in collaboration with Intermedia’s management team.

TD Securities is the administrative agent on the new term loan.

Intermedia Cloud is a Sunnyvale, Calif.-based provider of intelligent cloud communications and collaboration applications for sectors including healthcare, automotive, legal, financial services, education and government.

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