ViaPath Places Refinancing Deal On Hold Following FCC Proposal

Prison telecom provider ViaPath Technologies has placed a nearly-finished debt deal on hold after the Federal Communications Commission proposed rules to reduce phone and video call rates for incarcerated individuals, according to people with knowledge of the matter.

The decision was made to give the company and investors time to understand how the new rules could impact ViaPath’s business, said the people, who were not authorized to discuss details publicly. Discussions for the refinancing are ongoing, one of the people said.

Texas Capital Bank has been running the transaction, which was expected to wrap up on July 2. The deal ...