Loan Funds Development Of Services And Continued Build To Better Serve Customers
Denver, CO — InFlow, Inc., a leading providing of Internet Data Centers (IDCs) and managed services, today announced that it has secured $75 million in debt financing from the Bank of Montreal, GE Capital Telecom and First Union National Bank (NYSE:FTU). This funding will be used for continued investment in the Company’s 18 operational IDCs and to develop new services to help e-commerce companies execute their business objectives.
“Inflow’s ability to successfully raise capital is a tremendous endorsement in these difficult economic conditions. This validates the strength of our business,” said Jim McHose, Inflow chief financial officer.
The latest round of financing brings the total amount of capital the company has raised to more than $300 million. Co-arrangers BMO Nesbitt Burns, part of Bank of Montreal’s Investment Banking Group; GE Capital Telecom and First Union National Bank each provided $25 million of financing in the transaction. The transaction closed on March 2, 2001.
Art Zeile, Inflow chief executive officer commented, “Only the strongest companies are obtaining funding today. This capital funds our business plan and enables us to concentrate on expanding our suite of products and services, as well as continue to provide our customers with the highest level of customer service.”
“We are pleased to provide additional capital to Inflow,” said Mark DeCruccio, managing director, GE Capital Telecom. “Inflow’s management team continues to execute their business plan effectively. This is strong evidence of the benefits of their long-term commitment to excellent customer service.”
Inflow is a leading provider of Internet Data Centers (IDCs) and managed services, designed for mission-critical Internet business applications. The company guarantees 100 percent Internet availability through its unique managed network service offering, consisting of multiple Tier-1 Internet backbone providers. Inflow’s services are backed by first-rate customer service, which allows its customers to focus on their core business.
Inflow, with headquarters in Denver, Colorado, owns and operates a worldwide network of IDCs in emerging technology cities located in North America and Europe. For additional information and data center locations, please visit www.inflow.com or call 877.321.2464.
About Bank of Montreal/BMO Nesbitt Burns
BMO Nesbitt Burns (www.bmonesbittburns.com), as a member of the Bank of Montreal Group of Companies, is part of the bank’s Investment Banking Group. BMO Nesbitt Burns is one of Canada’s largest full-service investment firms, offering a broad range of products and services such as underwriting, corporate lending, mergers and acquisitions, research, sales and trading.
About GE Capital Telecom
GE Capital Telecom (www.gecapitaltelecom.com) is a unit of GE Capital Structured Finance Group (SFG), and provides equity and structured capital for public and private companies in mobile communications, broadband access and transport, value-added services and related infrastructure, worldwide. SFG is a leading equity investor and provider of innovative, financial products for clients in the global energy, telecommunications, commercial and industrial, and transportation sectors. GE Capital, a wholly owned subsidiary of General Electric Company with assets of more than US$370 billion, is a global, diversified financial services company based in Stamford, Conn. GE is a diversified services, technology and manufacturing company with operations worldwide.
About First Union National Bank
First Union (NYSE:FTU), with $254 billion in assets and stockholders’ equity of $15 billion at December 31, 2000, is a leading provider of financial services to 15 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in 11 East Coast states and Washington, D.C., and full-service brokerage offices in 46 states. Online banking products and services can be accessed through www.firstunion.com.
For additional information, contact Liza Mooney at Creaxion, (404) 495-4427 or email@example.com, or Karen Cryderman at Inflow, (303) 824-2553 or firstname.lastname@example.org.