Pace has moved a step closer to the acquisition of US gateway company 2Wire with the signing of $450 million (€351m) in credit facilities.
A consortium including Alcatel-Lucent, AT&T, Telmex, and Oak Investment Partners currently owns 2Wire. Its ten-year relationship with A&T means Pace will become the number one provider of telco residential gateway devices in the US and the number three globally.
Documentation signed with HSBC Bank and The Royal Bank of Scotland yesterday (September 1) will partially fund the transaction.
The facilities consist of a $300 million Term Loan Facility and a $150 million Multicurrency Revolving Credit Facility.