MFN gets another reprieve
Metromedia Fiber Network has been granted a Sept. 4 extension in its quest to raise the millions it needs to continue operations.
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In July, the financially distressed carrier negotiated a $150 million note facility led by Citicorp. That lender agreed to provide $62.5 million of the facility with the provision that Metromedia raise the $87.5 million balance from other lenders by Aug. 15. MFN failed to meet that date, prompting the latest extension.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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