Everstream, the business-only fiber network has announced it has secured more than $1 billion in debt financing to refinance existing credit facilities and raise additional capital to continue funding network growth and densification across its 10-state footprint. The deal marks the first time a U.S. based telecommunications company has leveraged an OpCo/HoldCo financing model. The OpCo facilities were structured uning a unique corporate/project hybrid structure that allowed distribution to a broad range of institutional and bank lenders. Structure also provides extra flexibility by offering a three-year drawing period for the DDTL and a seven year tenor on the TL. Transaction provides capex financing for fiber-to-the-tower backed by contracts with T-Mobile and Dish Networks. 

Everstream, which is majority owned by AMP Capital, is bringing high-capacity fiber connectivity to metro and rural areas across the Midwest and Mid-Atlantic.