Speedcasta Houston, Texas-based communications and IT services provider closed a new US$350 million credit facility.
PSP Investments Credit USA led the transaction, which included a $300 million B term loan and a $50 million senior revolving credit facility, both placed privately with a select group of direct lenders.
The transaction recapitalizes the March 2021 equity investment by Speedcast owners Centerbridge Partners, LP, a private investment firm, and provides additional capital on the balance sheet for growth.
Led by Joe Spytek, CEO, Speedcast is a communications and IT services provider, providing mission-critical communications services to the maritime, energy, mining, media, telecommunications, cruise, NGO, government sectors and businesses. The company leverages its global network platform to deliver fully connected systems that leverage technologies and applications to transform what remote operations can achieve. With a comprehensive network, Speedcast enables pole-to-pole coverage from a global hybrid carrier network of satellite, fiber, cellular, microwave, MPLS and IP with direct access to public cloud platforms.
The Company Integrates Differentiated Technology Offerings That Provide Intelligent Ways to Communicate and Distribute Content, Manage Network and Remote Operations, Protect and Secure Investments, and Improve the Crew and Guest Experience .
Speedcast serves over 3,200 customers in over 140 countries.