Inflow Secures $75 Million

March 27, 2001 -- Managed hosting provider InFlow, Inc. has secured $75 million in debt financing from the Bank of Montreal, GE Capital Telecom and First Union National Bank, the company said this week.
The money will be used to continue investment in Inflow's 18 data centers and develop new services for the company's e-commerce customers.
“Only the strongest companies are obtaining funding today," noted Art Zeile, Inflow chief executive officer. "This capital funds our business plan and enables us to concentrate on expanding our suite of products and services, as well as continue to provide our customers with the highest level of customer service.”
“Inflow’s management team continues to execute their business plan effectively,” said Mark DeCruccio, managing director, GE Capital Telecom. “We are pleased to provide additional capital to Inflow."
The new of financing brings the total amount of capital the company has raised to more than $300 million. Co-arrangers BMO Nesbitt Burns, GE Capital Telecom and First Union National Bank each provided $25 million of financing in the transaction. The transaction closed on March 2, 2001.
Inflow, hadquartered in Denver, provides Internet hosting and managed services through its worldwide network of data centers.