Future Fiber Networks, a joint venture between Dutch pension fund APG Group and SiFi Networks America, a U.S. developer of open access fiber optics networks, has raised $350 million in its debut debt fundraise.
The seven-year financing came from a club of banks and will be used alongside APG's $500 million equity investment in the venture to deliver fiber-to-the-home (FTTH) and smart city services across the United States via its fiber wholesale business model.
Future Fiber will contribute to bridging the digital divide in the United States where more than one-third of households do not have access to high-speed internet. The financing is aligned to a flexible European-style fiber debt structure and consists of a capex facility to fund the rollout of high-speed fiber connections to underserved communities.
The financing also includes mechanisms that are aligned to Future Fiber’s commitment to bridge the digital divide and provide fair access to the internet in
