Q9 Networks details C$120.632 million credit facility for purchase by ABRY Partners

By Sara Rosenberg

New York, Sept. 17 - Q9 Networks Inc. revealed the size and structure on its proposed C$120.632 million senior secured credit facility that will be used to help fund its acquisition by CDC Acquisition Corp., an affiliate of ABRY Partners LLC, according to a filing with SEDAR.

TD Securities is the lead bank on the deal.

The facility consists of a C$20 million or U.S. dollar equivalent revolver and a C$100.632 million or U.S. dollar equivalent term loan, the filing said.

Other financing for the buyout will come from C$56.25 million of mezzanine debt and at least C$188 million of equity.

CDC is buying Q9 Networks for C$17.05 per common share in cash in a transaction valued at about C$361 million.

The acquisition is expected to close in the fourth quarter, subject to shareholder approval and approval by the Ontario Superior Court of Justice.

A special shareholder meeting regarding this transaction will occur on Oct. 10.

Q9 Networks is a Toronto-based provider of outsourced data centre infrastructure for organizations with mission-critical IT operations.

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