| Salt Lake City
(November 9, 2010) -- iBAHN, the world’s
most reliable and respected provider of digital information and
entertainment
services for the hospitality industry, has secured a $20 million credit
facility with JP Morgan Chase & Co.
The new multi-year credit facility will be used for continued growth
and
installation of iBAHN’s IPTV platform in premium hotels throughout the
world. Financially stable with six
consecutive years of profitable operation, the new credit facility is a
reflection of the company’s solid financial position. “During challenging times for the hospitality industry, we are pleased to have secured this new credit facility with a leading global financial institution,” said David Garrison, iBAHN chief executive officer. “This funding will enable us to expand our role as one of the fastest growing hospitality IPTV providers in the world.” Proceeds from the credit facility will be used for capital expenditures related to contractual agreements to provide services to hotels and similar establishments throughout the world. iBAHN presently operates in 41 countries on six continents. About iBAHN  The company is the only global
provider of fully IP-based
information and entertainment solutions for the hospitality and
meetings
industries. Nearly two million travelers
and meeting attendees rely on iBAHN to stay connected and productive
with its
secure high-speed Internet access options in 2,000+ hotels, conferences
centers
and meetings spaces in more than 41 countries worldwide. iBAHN’s
digital entertainment
services feature leading programming on six continents. Operating
the largest MPLS network in the
industry, iBAHN provides technology solutions to approximately 50,000
events
annually, ranging from small group meetings to major industry
conferences,
while serving more than 40% of the Fortune 100 corporations. For more information, please visit www.ibahn.com. |