Novos Fiber, a retail fiber-to-the-home (FTTH) web service supplier (ISP), and its sister firm, Prime Fiber, a industrial open-access fiber infrastructure agency, have efficiently closed a USD 175 million senior secured debt facility by their holding firm, IL Fiber TopCo. The spherical was led by Woodforest Nationwide Financial institution, with participation from Third Coast Financial institution and Sunflower Financial institution, together with a USD 100 million accordion characteristic for future funding flexibility.
Additionally Learn: Verizon Expands Fios Fiber Service to Underserved Areas in Rhode Island
Building Initiatives in Florida
Each corporations—Novos Fiber and Prime Fiber—are backed by InLight Capital, a non-public funding agency based mostly in Sugar Land, Texas. At present serving clients within the Dallas-Fort Value space, Novos Fiber has initiated a significant development program in Bonita Springs and Naples, Florida, the official launch stated.
CFO of Novos Fiber and Prime Fiber stated, “It is a testomony to the group’s progress, and the extra capital will allow each companies to speed up their tasks, notably in 2025.”
CEO of Novos Fiber and Prime Fiber added, “This can be a scale recreation, and the market is turning into more and more aggressive. We’re specializing in executing with the appropriate construct economics, at pace. Capital is essential, and we’re lucky to have entry to sizable fairness and debt funding.”
Additionally Learn: Centranet Trial Brings 50Gbps Fiber Web to Tribal Nation in Oklahoma
Prime Fiber
Prime Fiber is an open-access FTTH infrastructure supplier serving ISPs, infrastructure consolidators, and enterprises throughout the US. Novos Fiber and Prime Fiber are funded by InLight Capital, a non-public funding agency based mostly in Sugar Land, Texas.
