Highwinds Capital Closes New $50 Million Credit Facility
Strong Financial Profile Garners Financing Deal from Silicon Valley Bank and Comerica Bank
Winter Park, Fla.(04 May 2011)
Highwinds Capital, Inc. today announced that it has secured a new $50 million credit facility with Silicon Valley Bank and Comerica Bank. A leading provider of content delivery (CDN), network and IP services, Highwinds continues to leverage its strong market position, positive cash flow and sustained profitability in its partnerships with these well-respected financial institutions. This new credit facility allows Highwinds to achieve a more attractive all-in cost of capital and is evidence of the company's impressive financial profile.
"Silicon Valley Bank's mission is to help our clients succeed. Highwinds has effectively innovated and flawlessly executed in the high-growth market of online content and video delivery," said Dale Kirkland, senior vice president of Silicon Valley Bank. "We are honored to be Highwinds' partner and to be providing a significant senior secured financing solution that supports Highwinds' strategic objectives."
Today's economic climate has transformed the way banks loan money to businesses. "Comerica focuses on relationships, and helping people and businesses be successful. We are excited to enter into this business relationship with Highwinds," said James Demoy, vice president of Comerica Bank's Technology and Life Sciences Division, which provides credit and other financial services to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts.
Highwinds, a top-tier CDN provider, has diversified its portfolio over the past several years into a comprehensive suite of solutions for content delivery, IP transit, transport, peering, colocation, content storage and IP software. Highwinds continues to execute at a high level and gain industry traction with its massive global network, flexible and scalable solutions, and unique value-adds. Highwinds' financial strength puts it in a position to finance future growth initiatives, which may include strategic acquisitions, infrastructure expansion and the hiring of additional personnel.
"Our strong balance sheet, and the ability to leverage it in our banking relationships, is a testament to our people and our technology," said Steve Miller, chairman and CEO of Highwinds. "Every day, I'm honored to be surrounded by some of the industry's most brilliant minds, the best technology in the space, and a team that knows what it takes to attract and retain prestigious customers. These are the things that make high-profile banking transactions like this one possible."
About Highwinds Capital, Inc.
Highwinds Capital, Inc., and its subsidiaries, offer content delivery, network and IP services and a comprehensive suite of solutions, including CDN, IP transit, transport, peering, colocation, content storage and IP software. The companies deliver content and rich media over the high-performance RollingThunder network to millions of global users every day. Highwinds' CDN customers gain unprecedented command and control with the StrikeTracker console and open APIs. Highwinds is headquartered in Winter Park, Fla., and maintains data centers around the world. For more information, visit www.highwinds.com.
About Silicon Valley Bank
Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life sciences, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital and SVB Global. More information on the company can be found at www.svb.com.
About Comerica Bank
Comerica Bank, with 11 banking centers in Florida, is a commercial banking subsidiary of Comerica Incorporated, a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $55.0 billion at March 31, 2011. To receive e-mail alerts of breaking Comerica news, go to www.comerica.com/newsalerts.