Vonage Defies Gravity to Win Funding Prize
Internet phone company Vonage has secured $220.3 million in credit in a deal that Wall Street sees as crucial to the struggling company’s survival. Proceeds will go toward paying off $253 million in debt on Vonage’s books. The $220 million deal, led by Silver Point Finance, comes at a time of unprecedented turmoil on Wall Street and the tightest credit markets in decades. Silver Point primarily invests in companies under some sort of financial duress.
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Vonage Defies Gravity to Win Funding Prize
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