US-based network provider Unite Private Networks (UPN) has secured a US$272.5m credit facility from a consortium of banks and institutional asset managers.
The funds will be used to support the company’s recently announced expansion plans in Nebraska…
US-based network provider Unite Private Networks (UPN) has secured a US$272.5m credit facility from a consortium of banks and institutional asset managers.
The funds will be used to support the company’s recently announced expansion plans in Nebraska and Iowa as well as fibre-to-the-tower deployments for large national wireless carriers, UPN said in a statement.
SunTrust Robinson Humphrey and RBC Capital Markets arranged the financing.
“This facility, in addition to deepening our relationship with our existing lenders, provides the financial resources for us to continue to successfully deliver against the increasing communications network needs of our expanding customer base,” UPN CFO James Wilmsen said. “We are very appreciative of the response of our lender partners and their consistent support of our metro fibre infrastructure focused business strategy.”
In October last year, UPN announced plans to expand its fibre optic network in Iowa and Nebraska, respectively adding 700 miles and nearly 600 miles of network to its existing footprint.
Kansas City-headquartered UPN provides high-bandwidth, fibre-based communications networks and services to schools, governments, carriers, data centres, hospitals, and enterprise business customers across the US.
The company is owned by employees and private equity firm Ridgemont Equity Partners.
