Vonage lands $215 million in debt financing

VoIP service provider Vonage said it has lined up $215 million in debt financing from a private third party which will help the company refinance much of its current debt of more than  $253 million. Further details are still unclear, such as who the private funding party is and what the terms of the financing agreement are. The arrangement comes after a year in which Vonage settled several patent lawsuits but continued to show strong customer growth and movement toward profitability.

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