TeraGo secures additional $27 million in debt financing for fibre-optic platform

TORONTO – National network service provider TeraGo Inc. announced yesterday it has secured an additional $27 million in senior term debt financing from Royal Bank of Canada to support its investment in a new fibre-optic service delivery platform as well as future acquisitions. The company secured the additional funding, which is part of a $42 million debt package, for its enhanced business plan through an amended credit agreement with RBC’s Knowledge-Based Industries Banking Group. Of the total debt package, $12 million is from existing drawn facilities which have been extended in term, and an existing $3 million operating line of...