WATERBURY, Conn., Sept. 28, 2018 /PRNewswire/ -- Webster Bank's Sponsor & Specialty Group acted as the lead arranger and sole bookrunner on $210 million in senior secured credit facilities enabling AMP Capital to purchase a majority ownership stake in Everstream Solutions, a U.S. network service provider. Everstream is bringing fiber-based Ethernet, internet and data-center services to businesses throughout the American Midwest.
AMP Capital is a global investment manager, and the deal represents its fourth global communications infrastructure transaction and the first in North America.
"We appreciate the continued relationship and support we have received from Webster over the last three years we have been working together," said Brett Lindsey, CEO of Everstream.
"Webster's Sponsor & Specialty Group was able to apply its deep telecom industry expertise and broad capabilities in our role as the lead agent in this deal," said Matthew Kane, managing director and head of Webster Bank's Telecom and Technology Group. "We look forward to continuing our role in helping Everstream realize its growth ambitions."
The Sponsor & Specialty Group offers sophisticated investment support for deals in specialized sectors including TMT, healthcare, restaurant/franchise and general C&I.
Everstream will use the AMP Capital investment for acquisitions and to fund organic network growth and development. The investment will give Everstream the ability to drive growth and invest in larger networks as it expands.
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $27 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 163 banking centers and 326 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment financefirm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
Elaine K. Ficarra, 203-578-2415
SOURCE Webster Bank