Siris Capital-Backed Mavenir Gets Fresh $35m From Lenders

Some lenders to Mavenir Systems have provided the network-software company with $35 million to address its cash needs, according to people familiar with the situation.

• The closely held company will use around $20 million to finance interest payments while the rest supports working capital needs, said the people, who asked not to be identified discussing a private matter
• A representative with Mavenir and its private equity owner Siris Capital declined to comment
• NOTE: Mavenir announced in late May that an existing investor would put as much as $75 million into the company
• The firm’s first-lien term loan maturing in 2028 ...