Speedcast, a communications and IT services provider, has successfully closed on a new USD350 million USD Credit Facility.
PSP Investments Credit USA LLC (PSP Investments) led the transaction, which was comprised of a USD300 million Term Loan B and a USD50 million Priority Revolving Credit Facility, both of which were privately placed with a select group of direct lenders.
The transaction re-capitalises the March 2021 equity investment by Speedcast’s owners, Centerbridge Partners, L.P. (Centerbridge), a private investment firm, and provides additional balance sheet capital for growth.
