GE Capital announced last week that it had agreed a US$230m senior credit facility with fibre network and broadband service provider Lightower.
The facility is structured as a US$40m revolver and a US$190m loan. GE Capital said in a statement that…
GE Capital announced last week that it had agreed a US$230m senior credit facility with fibre network and broadband service provider Lightower.
The facility is structured as a US$40m revolver and a US$190m loan. GE Capital said in a statement that Lightower had used some of the funds in its recent acquisition of the dark fibre network provider, Lexent Metro Connect.
Lightower has been a major network provider in the northeastern US, but it has recently been on an acquisition spree to expand its business.
It announced its acquisition of Lexent on December 1. On December 13, it said that it would be acquiring Open Access, the communications services provider.
Lightower is backed by M/C Venture Partners, Pamlico Capital and Ridgemont Equity Partners. GE Capital has been Lightower’s administrative agent since 2007, when Lightower was acquired by M/C Venture Partners and Pamlico Capital.
