Monday, December 1, 2014

Boingo Wireless Gets $50M In Credit Facility

Los Angeles-based Wi-Fi and small cell network provider Boingo Wireless said late last week that it has raised $50M in a new credit agreement. According to Boingo, the new credit facility came from Bank of America Merrill Lynch and Silicon Valley Bank. Boingo Wireless said the new line of credit would strengthen its liquidity position, and would be used for working capital. The line was split between $46.5M in revolving credit and a $3.5M term loan. Rates on the new line of credit were not announced.