(Atlanta, GA)- FiberLight, LLC, one of the nation’s leading providers of high performance fiber optic networks, announced today that it has increased its senior secured debt facility by an additional $97.2 million. CoBank led the syndicated financing, which included a number of farm credit banks. The syndication closed on September 30th, 2013 and marks a new milestone in FiberLight’s sustained growth.
“Our continued sales growth and expansion of our high fiber count networks that are designed, engineered, built and maintained by FiberLight continue to allow us to secure a credit facility with CoBank at extremely favorable terms and rates. The facility will be used to refinance existing debt, fulfill customer contracts, and fund future success based opportunities,” said Kevin Coyne, FiberLight’s Chief Financial Officer.
FiberLight has undertaken numerous projects, including their largest build in the state of Texas, of which consists of 8,000 miles of fiber and a 100 Gig Long-haul network (called DASH) between Dallas/Ft. Worth, Austin, San Antonio and Houston. “FiberLight’s growth allows us to maintain some of the lowest leverage ratios in the industry. The refinancing component of this debt raise will cap off our efforts to lower our cost of capital providing additional savings and cash flow,” stated Mr. Coyne.
FiberLight is a premier provider of high performance networking services including Ethernet, Wavelengths, and IP, SONET, and Dark Fiber optical transport network solutions. Solutions are provided to telecom carriers, government, enterprise, content providers and web-centric businesses. FiberLight wholly owns its 500,000 fiber mile network in key growth areas and offers robust metro networks in 23 metros within Georgia, Florida, Washington, D.C., Texas, Virginia and Maryland, as well as Wide Area Networking options at layer 1, 2 and 3 to major commercial hubs throughout the country. Visit FiberLight at www.fiberlight.com.
PR Contact: Michael Klug, FiberLight, LLC, 678-824-6634, Mike.Klug@FiberLight.com