Networking Solutions
FirstLight Fiber Successfully Raises Five-Year Senior Secured Infrastructure Debt Financing Package
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The senior secured debt financing package will be used to refinance its existing credit facilities and optimize its capital structure to further position FirstLight for growth
Albany, NY, May 07, 2024 (GLOBE NEWSWIRE) -- FirstLight Fiber, the Northeast U.S.’s largest independent fiber bandwidth infrastructure provider with 25,000 fiber network route miles and more than 125,000 addressable locations, successfully raised a five-year senior secured infrastructure debt financing package. The package will be used to refinance FirstLight’s existing financing and support its future capital expenditure needs.
The financing was led by a syndicate of six international banks with a strong franchise in digital infrastructure: Banco Bilbao Vizcaya Argentaria (BBVA), J.P. Morgan, Natixis Corporate & Investment Banking, Société Générale (who also acted as structuring and coordinating bank), Sumitomo Mitsui Banking Corporation (SMBC), and TD Securities.
“I am excited to announce this new financing that is structured around FirstLight’s needs and provides flexibility to support our next stages of growth,” said FirstLight CFO Peter Zarrella.
“The strong appetite from international infrastructure banks is testimony to FirstLight’s position as a leading provider of essential communications infrastructure and confirms the quality of our differentiated product offering,” commented FirstLight CEO Jason Campbell.
“We are extremely proud to have secured this innovative financing from many of our core relationship banks,” added Kevin Genieser, Managing Partner at Antin Infrastructure Partners and FirstLight Board Member. “This is an exciting evolution for us and well positions FirstLight for the future.”
FirstLight Fiber is owned by funds managed by Antin Infrastructure Partners.
Gibson Dunn & Crutcher LLP represented FirstLight and Antin in the transaction. Milbank LLP acted as lenders’ counsel.
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About FirstLight Fiber
FirstLight, headquartered in Albany, New York, provides fiber-optic data, Internet, data center, cloud, unified communications, and managed services to enterprise and carrier customers throughout the Northeast and mid-Atlantic connecting more than 15,000 locations in service with more than 125,000 locations serviceable by our more than 25,000-route mile network. FirstLight offers a robust suite of advanced telecommunications products featuring a comprehensive portfolio of high bandwidth connectivity solutions including Ethernet, wavelength and dark fiber services as well as dedicated Internet access solutions, data center, cloud and voice services. FirstLight’s clientele includes national cellular providers and wireline carriers and many leading enterprises, spanning high tech manufacturing and research, hospitals and healthcare, banking and financial, secondary education, colleges and universities, and local and state governments FirstLight was named a Top Workplace USA in 2022 and 2023.
To learn more about FirstLight, visit https://firstlight.net/, or follow the company on Twitter, LinkedIn and Instagram.
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First published on Tue, May 7, 2024
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