WEST POINT,ITC DeltaCom, an integrated communications service provider across the Southeast, has closed on $239 million in new financing.
ITC DeltaCom said $30 million is available for general corporate purposes. The remainder will be used to pay off existing loans, the company added.
Tennenbaum Capital Partners provided the financing. In return it receives warrants for 9 million shares of new stock and the right to name two members to ITC DeltaCom’s board.
All the loans mature in 2009.
ITC DeltaCom: www.itcdeltacom.com
