The fibre optic network service provider will use proceeds from a new facility to pay off debt relating to its 2011 spin-off from NTELOS.
.jpg "Div-recaps add to ticking distressed 'time bomb'")
Credit market euphoria is creating the next wave of distressed investment opportunities, according to Wilbur Ross and Apollo's Joshua Harris, who spoke at the Milken Institute's Global Conference this week.
.jpg "Apollo eyes European debt")
Apollo's been taking advantage of buoyant markets on the sell-side, while targeting non-traditional deals including buying some $12bn in European loans over the past 36 months, according to founder Leon Black (pictured).
The New York-based firm has raised $154 million to provide balance sheet financing for transitional properties throughout the US.
/April/News/Patrick%20Robinson80.bmp "Transwestern boosts capital markets team")
US real estate firm Transwestern continues to build its capital markets team with two senior hires: ex Grubb & Ellis head of debt and structured finance Matthew Schnurr and former head of capital markets at Advance Reality Group Gary Sopko.
Royal Park Investments, a vehicle formed to manage the toxic assets of Fortis after the Belgian bank collapsed in November 2008 has been sold to US private equity firm Loan Star Fund and Credit Suisse.
In February, the London-based firm hired several executives from Palio Capital Partners to boost its mid-market direct lending capabilities.
/April/News/alexstevenson80.bmp "Lincoln International bolsters its restructuring division")
M&A-specialist investment bank Lincoln International is expanding its restructuring team with the hire of Alex Stevenson
Diane Raposio’s appointment is KKR’s second senior Australian hire this year, following the recent appointment of Carlyle Group’s vice-president Leigh Oliver as a principal.
The deal is Standard Chartered Private Equity’s first realisation of a mezzanine investment in the Middle East.