Hibernia Networks Completes $52.5 Million Refinancing

  Hibernia Networks Completes $52.5 Million Refinancing

Business Wire

SUMMIT, N.J. & DUBLIN -- January 17, 2013

Hibernia Networks, a provider of global capacity services, announced today
that it completed a $52.5 million debt refinancing. The proceeds of the
refinancing were used to pay off existing indebtedness and will provide
incremental liquidity for growth and for working capital. The new lender group
includes funds managed by affiliates of Fortress Investment Group LLC and
Bridge Bank.

“With this transaction, Hibernia has reduced its cost of capital considerably
– a reflection of the successful execution of our business plan,” stated Lloyd
Jarkow, CFO of Hibernia. “Hibernia is focused on continued growth and we are
excited about the strategic value of our new lender relationships.”

Hibernia’s cutting-edge network technology allows carriers and service
providers to leverage its reliable, next-generation services. Its self-healing
ring architecture is engineered across diverse paths allowing Hibernia to
provide secure services with 100% service level guarantees for its dedicated
Ethernet, DTM and optical-level services, Gigabit Ethernet, 10 Gigabit and
LanPhy wavelengths and traditional SONET/SDH services. Hibernia’s network
offers direct access to over 120 points of presence across North America,
Europe and Asia.

Fortress Investment Group LLC (NYSE: FIG) is a leading, highly diversified
global investment firm with over $50 billion in assets under management.
Fortress manages assets on behalf of over 1,400 institutional clients and
private investors worldwide across a range of investment strategies including
private equity, credit, liquid hedge funds and traditional fixed income.

Bridge Bank, National Association (NASDAQ: BBNK) is a full-service
professional business bank dedicated to meeting the financial needs of small,
middle market, and emerging technology businesses. Bridge Bank provides its
clients with a comprehensive package of business banking solutions delivered
through experienced, professional bankers. With a growing nationwide web of
offices and a correspondent banking network that stretches worldwide, Bridge
Bank’s Technology Banking Division serves venture-backed and
non-venture-backed companies from inception through IPO, and companies focused
on renewable energy projects. For additional information, visit
www.bridgebank.com.

Bank Street Group served as exclusive financial advisor and sole placement
agent in connection with the refinancing.

For more information on Hibernia’s network and to view its global network map,
visit www.hibernianetworks.com.

About Hibernia Networks:

Hibernia Networks owns and operates a global network connecting North America,
Europe and Asia. Hibernia offers over 120 network Points of Presence (PoPs) on
over 24,000 kilometers of fiber.

Hibernia Networks serves wholesale, financial and media customers with
unparalleled support, flexibility and service. Hibernia’s wholesale services
provide secure and diverse dedicated Ethernet, DTM and optical-level services,
including GigE, 10G and LanPhy wavelengths and traditional SONET/SDH services.
Hibernia’s financial services unite hundreds of global banks and financial
exchanges with low latency connectivity. Hibernia’s media services are
dedicated to flawless delivery of video signals over fiber, supporting media
companies across the globe with over 150 media connection points. Hibernia
Networks is owned by Columbia Ventures Corporation and funds managed by
Constellation Growth Capital.

For more information on Hibernia’s cutting-edge network and services, please
visit www.HiberniaNetworks.com.

Contact:

For Hibernia Networks media inquiries:
Jaymie Scotto & Associates
+1-866-695-3629
pr@jaymiescotto.com
 
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