Friday, November 2, 2007
Clearwire Expands Bank Facility By $250M
Kirkland-based WiFi provider Clearwire said Friday afternoon that it has increased its secured term loan by $250M, to $1.25 billion. The firm said the increase in funding will go to support its expansion plans, spectrum acquisitions, and for general corporate purposes. The firm had closed its initial $1B in term loan financing in August; according to Clearwire, Morgan Stanley and Wachovia acted as Joint-Lead Arrangers and Joint Bookrunners for the transaction.