Cable Plus Secures $55 Million Private Equity Investment; Credit Suisse First Boston, Metropolitan Life, BZW to Provide Growth Capital.BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 26, 1997--Cable Plus, one of the fastest growing providers of integrated telecommunication services to multi-family housing industries, announced that it has secured a $55 million private equity investment to finance its long term growth strategy. Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. (CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank ) and Metropolitan Life Insurance have invested a total of $50 million, while BZW BZW Beziehungsweise (German: Respectively) BZW BZFlag World (file format/extension) BZW Blizzard Warning BZW Barclays der Zoete Wedd , the investment banking division of Barclays Bank, PLC, a key lender to Cable Plus, has invested an additional $5 million. The $55 million represents a minority interest in the Company. The new growth capital will enable the Company to substantially expand its new business development program and to fund investments and new product development in private telephone, cable networks and alarm systems. "With this solid capital structure, we will strategically invest in new growth opportunities in our industry," said Joseph M. Liebsack, chairman and chief executive officer of Cable Plus. "We are delighted to have the financial and strategic support of three world-class institutional investors." MetLife is the lending provider of life insurance in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . In addition, MetLife maintains a significant real estate portfolio investment in multi-family housing. CSFB is one of the leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. institutions in the world. BZW and Barclays are leading providers of global financial services to multi-national corporations. Earlier this year, BZW led a syndicate of ten banks, including CSFB, in underwriting a $175 million credit facility for Cable Plus. Cable Plus offers a suite of integrated communication services to the multi-family industry. These services include local, network and premium channel T.V. programming delivered via satellite; local and long distance telephone services with enhanced features such as voice mail and call waiting; and a 24-hour apartment alarm monitoring system. Founded in 1989 by a group of senior executives from McCaw Communications, Bellevue, Washington Bellevue is a rapidly growing city in King County, Washington, U.S., across Lake Washington from Seattle. Long known as a suburb or satellite city of Seattle,[1] it is now categorized as an edge city or a boomburb. , based Cable Plus operates telecommunication services in 18 states, primarily in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . The Company provides services to more than 175,000 customers nationwide. CONTACT: Bob McCambridge, 425/452-7201 |
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