"Omni Fiber received an additional $200 million in financing from Oak Hill Capital, Stonepeak Credit, and Oak Hill Advisors (OHA), the company announced today. Stonepeak Credit and Oak Hill Advisors (OHA) provided a total of $150 million in incremental debt financing, while Oak Hill Capital added $50 million in incremental equity financing. Omni Fiber said it plans to use the funds to continue its expansion in the Midwest and Texas."
"This is in addition to the $400 million Omni Fiber has already spent to build its XGS-PON fiber network, which is on pace to reach about 340,000 locations by the end of 2025. The incremental financing from Stonepeak Credit and OHA, which follows a previous $150 million in debt financing from Stonepeak Credit announced in July 2024, will fund Omni Fiber's continued expansion into communities throughout the Midwest and Texas."
Omni Fiber received $200 million in incremental financing from Oak Hill Capital, Stonepeak Credit, and Oak Hill Advisors (OHA). Stonepeak Credit and OHA provided $150 million of incremental debt while Oak Hill Capital provided $50 million of incremental equity. The funds will support continued expansion across the Midwest and Texas. Omni Fiber has invested $400 million to build an XGS-PON fiber network that is on pace to reach about 340,000 locations by the end of 2025. Operations began in December 2022 and the company now serves residential and business customers in about 60 small and mid-size communities in Michigan, Ohio, Pennsylvania, and Texas. Construction, network design, and engineering are active in additional markets. Oak Hill has been an active investor in the fiber market and was majority owner when Omni Fiber and Lit Fiber merged.
Read at Telecompetitor
Unable to calculate read time
Collection
[
|
...
]