Monday, October 20, 2008
The Planet Gets $45M Credit Facility
Houston-based web hosting firm The Planet said today that it has scored $45M in a credit facility. The firm said the credit came from Wachovia Bank NA, which is providing the firm with $30M, along with Bank of America, which will provide $15M for the firm. The company said the funding will go towards its expansion plans and strategic initiatives over the next few years. Terms of the credit deals were not disclosed.