Press Release
April 26,
2002
iCore Advisory Services Arranges $30 Million
Debt Facility For Integrated Communications Provider
Washington,
D.C. -- iCore Advisory Services, a Washington, DC-based provider
of sales, marketing and capital markets advisory services,
has arranged a $30
million senior debt facility for LDMI Telecommunications, Inc., a leading
provider of enterprise voice and data services in the upper Midwest.
The loan package
includes a working capital line of credit and an equipment acquisition facility. "We’re very pleased by this successful outcome," said
Norman Harrison, Managing Partner of iCore. "Capital markets
remain very tight for telecom companies," he continued, "and
the LDMI transaction underscores the importance in this environment
of relationships with management teams and
credit providers in getting deals closed on terms that are beneficial to
both parties."
Patrick O’Leary, Chief Executive Officer
of LDMI, stated that "this
new financing provides additional fuel for our growth as we continue expanding
our footprint. iCore understands our business and the competitive environment," he
continued, "and was an extremely valuable intermediary in sourcing the
capital, helping us negotiate the terms of the facility, and enabling us
to meet an aggressive
closing schedule." About iCore Advisory Services, LLC
iCore Advisory Services, LLC provides sales, marketing and
capital markets advisory services to technology, software
and communications companies. The
company works
with client management teams to aggressively drive sustainable growth in
revenue and cash flow, with primary emphasis on training,
recruiting, marketing and
sales execution. iCore Capital Partners supports clients in identifying sources
of
debt and private equity capital, and in structuring and negotiating strategic
transactions. For more information see www.icore.com.
About LDMI Telecommunications,
Inc.
LDMI has been serving small and mid-size businesses in the Great Lakes region
with business-class telecommunications services since 1992. The company provides
integrated voice, data, web and network services to business customers, offering
highly competitive rates, seamless performance, and hassle-free customer
service. In addition, unlike most competitive telecom providers, LDMI operates
its own
billing operations and maintains complete control over call data and bill
accuracy, and also provides customers with the most straightforward invoice
in the industry.
For more information see www.ldmi.com.
For more information contact:
iCore Advisory Services, LLC
Norman J. Harrison
(202) 416-1656
nharrison@icore.com
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