New York, NY (PRWEB) August 03, 2017
Mitel announced that they have entered into a definitive merger agreement to acquire 100% of the outstanding shares of ShoreTel at a total equity value of approximately $530mm. EA Markets LLC advised Mitel on the acquisition financing in conjunction with the arrangement and structuring of a $300mm term loan B. Earlier this year, EA Markets acted in a similar capacity with regards to Mitel’s $500mm term loan A and revolving credit facility.
Mitel intends to finance the consideration for the acquisition and associated transaction expenses using a combination of cash on hand from the combined business, drawings on its existing revolving credit facility and proceeds from a new fully underwritten term loan maturing in 2023. The existing term loan and revolving credit facility will remain in place with the Company having already obtained the requisite majority consent to certain amendments which accommodate the acquisition and the incremental financing.
“EA is a trusted advisor who always represents Mitel’s best interests,” said Steve Spooner, Mitel’s Chief Financial Officer. “Their experienced team was integral to arranging this highly attractive acquisition financing,” he continued, “and I feel EA is a great partner focused on delivering the best capital structure solutions for its clients.”
“Mitel obtained optimal financing terms to support their strategic initiatives,” said Harpreet Wadhawan, Senior Managing Director, “and EA is proud to have contributed to their continued success.”
About EA Markets LLC
EA Markets is an independent investment bank focused on arranging capital. EA has raised over $100 billion dollars in debt and equity financing for corporations and private equity portfolio companies. Our corporate finance professionals are highly experienced in executing syndicated loans, direct placements and securities underwriting transactions, and we are steadfast advocates for our clients. For more information on EA, visit the website at http://www.eamarkets.com.