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Telx Seeks $340M Loan For Takeover

Telx Group is looking to raise $340 million of loan.

Telx Group is looking to raise $340 million of loan, Bloomberg reports. The credit facility will help fund the network-neutral interconnection facilities operator’s leveraged acquisition by Boston-based investment firms Abry Partners and Berkshire Partners.

The deal consists of a $290 million term loan B and a $50 million revolving line of credit. Abry and Berkshire are buying the New York–based group for an undisclosed amount from GI Partners. Morgan Stanley and Toronto-Dominion Bank are arranging the transaction.

Click here for the story from Bloomberg.

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