Everstream Closes Additional $140 Million in Debt Financing

Press Releases – Jul 13, 2021 –CLEVELAND – Everstream, the business-only fiber network, has announced it has secured an additional $140 million in debt financing, with Webster Bank as lead arranger. Joint lead arrangers include CoBank, Regions Financial Corp., Fifth Third Bank and TD Bank. Everstream will use the financing to fund its growth strategy through June 2022, which includes expanding into seven new markets, densifying existing markets, and connecting thousands of macro towers across its 10-state footprint with high-capacity fiber connectivity.

“As Everstream continues to perform at a high level, we are happy to further our relationship with the business,” said Matthew Kane, Managing Director of Webster Bank’s Technology and Infrastructure Group. “We’re pleased to share a mutually beneficial partnership with Everstream and look forward to supporting the company’s ongoing success.”

The final $140 million in financing was oversubscribed by $40 million and brings the total invested by this group of bankers to $567 million.

Everstream is bringing high-capacity fiber connectivity to metro and rural areas across the Midwest and Mid-Atlantic regions. The company has grown to more than 25,000 miles of fiber and more than 3,600 on-net buildings with the June 2021 acquisition of fiber network assets from Uniti. As Everstream’s network grows, its customers benefit from more diverse network options and direct connection to data centers and locations in the expanded region.

“Fiber infrastructure is critical to the future growth of our country — whether it’s connecting business locations, data centers and cloud providers, facilitating 5G or enabling next-gen technologies. Everstream is grateful to have partners who agree that a robust fiber infrastructure has never been more important and trust that our team will deliver,” said Everstream CEO Brett Lindsey.