Friday, August 21, 2009

CIBER Gets Financing Line

Greenwood Village-base dCIBER, a system integrator and outsourcing firm, reported Thursday that it has received $155M in financing in a three year deal. The credit financing was led by Bank of America, N.A., Banc of America Securities LLC, and BBVA Compass Bank, with funding also coming from U.S. Ban k, Union Bank, IBM Credit, KeyBank and PNC Bank. The publicly held firm said that it has been looking to refinance its banking facility since early 2009, due to debt ratio covenant tightening. The firm apparently had been affected by tighter credit standards due to the economy.