Stonepeak Injects $50 Million Into Radiate Amid Cash Pressures

Stonepeak Partners has put $50 million into Radiate Holdco as the company, also known as Astound Broadband, faces liquidity issues, according to people familiar with the matter.

• The new loan ranks equally with an existing first-lien loan, said the people, who asked not to be named discussing private details
• The cable provider, bought by Stonepeak in 2021, and its lenders have hit an impasse over a debt restructuring, Bloomberg reported last week
• A representative for Stonepeak declined to comment Wednesday while Radiate did not respond to requests for comment
• NOTE: Moody’s downgraded Radiate in March to Caa2, ...