Contact: Tom Marturano
Tampa, Florida - Communications Equity Associates ("CEA") announced today that it represented United Micronesia Development Association ("UMDA") in the placement of a $40 million senior loan facility. Funding was provided by CoBank and Bank of Hawaii.
UMDA owns and operates cable television systems that serve approximately 50,000 basic subscribers located in the U.S. Territory of Guam and the U.S. Commonwealth of the Northern Mariana Islands. UMDA also operates a hotel pay-per-view business and Internet service providers in those areas.
The new loan facility will enable UMDA to continue its deployment of advanced services on its newly-rebuilt, 750 MHz cable plant in Guam, and will allow the company to keep pace with the recent economic growth brought about by increasing tourism as well as additional construction activity and personnel arrivals on Guam's two military bases.
Thomas M. Marturano, Senior Vice President of CEA, represented UMDA in the transaction. Mr. Marturano is based in CEA's suburban Philadelphia office.
Founded in 1973, CEA is a leading provider of investment banking services and private equity to the global media and entertainment, communications and information technology industries. With a team of highly experienced personnel worldwide, CEA has an unequaled depth and breadth of industry knowledge, expertise and long-standing industry relationships. CEA has completed over 800 transactions totaling $35 billion in more than 50 countries. CEA's affiliates also manage, co-manage or participate in a worldwide family of private equity funds with committed capital of approximately $1.15 billion for private equity investments in the industries CEA serves. Included in this amount is an ownership interest in the general partner of a $300 million European-based private equity fund. CEA's reputation and track record of success are built on delivering innovative, value-added solutions and services to clients worldwide. CEA Media Group, LLC is a member of the NASD and SIPC.