Xplornet Communications Inc., a portfolio company of Sandler Capital, McKenna Gale Capital, Werlund Capital, has closed offering of 9.625% Senior Notes due June 1, 2022 for gross proceeds of $59.3 million, raising $45.8 million from nine Ontario investors and $13.5 million form one Alberta investor.
BMO Capital Markets acted as exclusive agent for the offering and was paid a fee of $1.33 million. Davies Ward Phillips & Vineberg LLP is the legal counsel for Xplornet.
Woodstock, New Brunswick based Xplornet Communications Inc. is one of Canada’s leading broadband service providers. Xplornet corporate office is based in Markham, Ontario.
photo credit: Xplornet