Access One Coms Closes on Financing with MCG Credit Corp., Majority Owned by Goldman Sachs.
FT. LAUDERDALE, Fla./ARLINGTON, Va.--(BUSINESS WIRE)--July 1, 1999--Access One Communications, an affiliate of Sirco International Corp. (NASDAQ:SIRC - news), and MCG Credit Corporation, majority owned by investment affiliates of Goldman Sachs (NYSE:GS - news), today announced the closing of a comprehensive agreement under which MCG will provide Access One with up to $15 million of debt capital. The capital will be used to repay existing indebtedness and to provide general working capital to support Access One's future growth.
''We are excited to be working with MCG Credit Corp. MCG has proven itself as a strong financial partner for rapidly growing communications companies,'' stated Ken Baritz, Access One's Chairman and CEO. ''We have grown Access One from 2,000 access lines to over 30,000 access lines in less than two years. With our new virtual local services network, internal billing and customer care platform, and coming deployment of Broadband DSL services, we are ready to seize significant market share in the Southeastern United States. With MCG, we have a strong financial partner that can fund our future growth.'' ..........
biz.yahoo.com |
