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Everstream Secures Over $1 Billion For Refinancing, Debt Capital Arrangement

Apr 01, 2022•over 3 years ago

Amount Raised

$1 Billion

ClevelandTelecommunications

Description

Everstream, the business-only fiber network, has announced it has secured more than $1 billion in debt financing to refinance existing credit facilities and raise additional capital to continue funding network growth and densification across its 10-state footprint. The deal marks the first time a U.S. based telecommunications company has leveraged an OpCo/HoldCo financing model, driven by demand from Institutional Infrastructure investors.

Company Information

Company

Everstream

Location

Cleveland, Ohio, United States

About

The deal marks the first time a U.S. based telecommunications company has leveraged an OpCo/HoldCo financing model, driven by demand from Institutional Infrastructure investors. Consistent with its mission to bring speed, reliability, scale, and performance to its customers, the company increased its total route miles of fiber by 80% in 2021, growing to nearly 27,000 route miles.“The role of communications infrastructure is increasingly critical, with technologies and services such as fiber and data centers leading the way,” said Sam Sixt, Investment Director at AMP Capital and Board Member of Everstream. This innovative financing solution provides Everstream with the flexibility and runway to build critical infrastructure that underpins the demands of its customers,” said Aman Sareen, Director at AMP Capital. Through its “Do What You Say You Will Do” approach, Everstream is a valued partner dedicated to the success of business customers.