TORONTO-Clearnet Inc., Toronto, announced it has entered into an underwriting agreement with the Canadian Imperial Bank of Commerce for $350 million in senior secured credit facilities.
Proceeds from the transaction, which is expected to close by Jan. 31, will be used to refinance outstanding vendor financing arrangements and to refinance up to $75 million of outstanding bank debt, among other purposes.
Clearnet is a subsidiary of Clearnet Communications Inc.
