Broadband Operator Radiate Gets More Cash, Revamps Debt Stack

Stonepeak Partners-backed Radiate launched a deal to raise $400 million in fresh capital from its owner and also restructure existing debt, according to people with knowledge of the matter.

The liquidity injection will be split across a second-out term loan and a third-out loan, said the people, who asked not to be identified discussing a private matter. The financing will pay-in-kind, which allows the cable provider to defer paying interest in cash and instead pay with additional debt, they said.