Brocade gets loan to fund Foundry buyout

08.10.2008

Also on Tuesday, VoIP (voice over Internet protocol) service provider Vonage Holdings announced new terms for its proposed debt financing with Silver Point Finance. It announced $215 million in private debt financing with Silver Point in July, but has restructured that financing, which now totals $220.3 million. The company expects that deal to close next month. Its stock (VG, on the New York Stock Exchange) had fallen $0.10 to $0.85 in the day's trading but was up almost $0.03 after hours. Vonage has settled a series of patent lawsuits but is still struggling as bigger players, such as cable operators, offer competing VoIP plans packaged with other services.