Morgan Stanley Unit Is Taking Over Fusion Connect in Investment Deal
- Morgan Stanley Private Credit leads debt refinancing deal
- Company trims debt, gets fresh cash two years after bankruptcy
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Telecommunications company Fusion Connect Inc. raised fresh cash and reworked its debt as part of a turnaround strategy that will see Morgan Stanley Private Credit take ownership of the firm.
The Atlanta-based company raised $55 million in preferred equity and refinanced a $60 million credit facility as part of a recapitalization led by Morgan Stanley, Ellington Management Group, and Investcorp Credit Management BDC Inc., according to a statement seen by Bloomberg on Wednesday.