Mitel Completes $135 Million Financing Arrangement

Mitel Networks completed a $135M financing package consisting of equity investment, debt to equity conversion and expansion of its credit facilities, which significantly strengthens the company's balance sheet and provides additional capital to finance growth plans.



EdgeStone Capital Partners, one of Canada's leading independent private capital managers, led the equity round with a $20M investment. In addition to EdgeStone's investment, Mitel had previously raised over $50M of debt from its principal shareholder and other private investors, all of whom chose to convert their respective holdings into equity as part of this arrangement. This equity financing was augmented by new credit facilities.



Mitel Networks, which is headquartered in Ottawa, supplies IP telephony solutions. http://www.mitel.com