ViaPath Technologies Closes Debt Refinance Deal
Transaction strengthens Company’s competitive position, provides capital to invest in growth and mission.
FALLS CHURCH, VA, UNITED STATES, August 7, 2024 /EINPresswire.com/ -- ViaPath Technologies, a global technology leader that facilitates successful reintegration for incarcerated individuals, today announced the completion of a $1.525 billion refinancing transaction, consisting of a $1.375 billion term loan and a $150 million revolving loan facility maturing in 2029.
The capital structure was finalized at the same margin discussed with lenders before the Federal Communications Commission’s July 18 rule change impacting the company’s industry, signaling investor confidence in ViaPath’s strong financial position.
“A strong and stable financial position ensures that we will be able to continue advancing our mission of breaking the cycle of incarceration through transformative technology and services,” said Deb Alderson, President and CEO at ViaPath. “We value the support of our financial partners and look forward to achieving more positive outcomes for justice-involved citizens, their friends and family, and the staff and leadership of the correctional facilities we serve.”
Since joining ViaPath as President and CEO in 2018, Alderson has led a number of purpose-driven initiatives that have expanded and deepened the company’s social impact and positioned it for continued growth. These include a communications program that offers free weekly calls or messages to incarcerated individuals at ViaPath serviced facilities; free educational offerings that support mental wellbeing, life skills development, and academic and vocational training; and employment support post-incarceration.
Texas Capital Securities served as sole arranger and bookrunner on the term loan.
ABOUT VIAPATH TECHNOLOGIES
ViaPath provides advanced communications, technology and management solutions that facilitate meaningful connections, provide educational opportunities, and enable successful reintegration for both current and formerly incarcerated individuals. ViaPath is headquartered in Falls Church, Virginia, with an employee presence throughout North America.
To learn more, please visit viapath.com.
Sally Ewalt
ViaPath Technologies
+1 571-562-1190
media@viapath.com
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