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Technology Stocks : NorthPoint Communications Holdings, Inc. (NPNT) -- Ignore unavailable to you. Want to Upgrade?

To: P314159d who wrote (406)	12/9/1999 11:52:00 AM
From: Skywatcher	Read Replies (1) \| Respond to of 786

NorthPoint Communications Secures $250 Million of Credit Facilities SAN FRANCISCO, Dec. 9 /PRNewswire/ -- NorthPoint Communications, Inc. (Nasdaq: NPNT - news), a leading provider of broadband services using digital subscriber line (DSL) technology, today announced that it has closed on $250 million of senior secured credit facilities. The sole lead arranger and syndication agent for the credit facilities, which closed today and consists of $250 million in committed financing and $50 million in the form of a pre- approved incremental facility, is Goldman Sachs Credit Partners L.P. CIT Group's Structured Finance Unit, formerly Newcourt Capital, and CIBC World Markets acted as documentation agent and administrative agent, respectively. ''These facilities further strengthen NorthPoint's balance sheet and position us for continued growth,'' said Henry Huff, NorthPoint's chief financial officer. ''This additional financing builds on our strong base of over $530 million of funded equity and will enable NorthPoint to continue to execute on its plan to establish the nation's most expansive broadband network.'' NorthPoint recently announced its plans to expand its network to 60 major U.S. markets -- or approximately half of all U.S. homes and businesses -- by the end of next year. ''We are especially pleased with the banks participating in these facilities,'' added Huff. ''It represents an important milestone and strong vote of confidence in NorthPoint to have these leading arrangers and quality banks and institutions participating in the syndicate. The tremendous support from the traditional bank and institutional markets allowed us to increase the size of this transaction over the course of the syndication.'' chris