#United States #Houston #LOGIX Fiber Networks #recapitalization #Greg O'Connor

Logix Fiber Networks Completes Key Recapitalization Transactions

Logix Communications, LP, widely known as Logix Fiber Networks, recently announced its successful completion of various recapitalization transactions. This strategic move aims to bolster the company’s liquidity and position it for sustainable long-term growth in the fiber connectivity marketplace, specifically across Texas. The transactions were facilitated by UBS O'Connor Capital Solutions and supported by the company's first-lien lenders, most notably funds managed by Main Street Capital Corporation.

The recapitalization package included a new investment of $45 million from UBS O'Connor. It also involved a partial repayment of existing debts and long-term maturity extensions on first lien loans. Moreover, the existing second lien term loan was converted into a mixture of a new second lien term loan and fresh preferred equity. Coupled with the extinguishment of certain funded debt instruments, Logix was able to reduce its overall debt by more than $150 million.

This significant deleveraging is expected to provide Logix with additional liquidity, allowing the company to pursue new growth opportunities and enhance its array of products and services offered to customers.

Accelerating Innovation and Network Expansion

Having developed over 300,000 fiber miles and established connections with 3,000 on-network buildings, Logix is recognized as one of Texas's largest independent fiber network operators. The recent round of financing will enable Logix to:

• - Expand its fiber coverage to accommodate the rising demand for bandwidth-intensive applications.
• - Roll out 800G wave connectivity, which promises ultra-fast networking solutions tailored for enterprises and data centers.
• - Upgrade service capabilities by investing in infrastructure in critical Texas markets.

Greg O'Connor, an experienced telecommunications leader with over 25 years in the industry, has been appointed as the new Chief Executive Officer of Logix. His extensive expertise spans network engineering, wireless and wireline operations, and infrastructure investment. Before joining Logix, O'Connor held prominent roles at T-Mobile, Cogent Communications, and Sprint. His profound understanding of business transformation and operational optimization positions him well to lead Logix into its next phase of growth.

Commitment to Enhancing Business Connectivity in Texas

As the demand for improved bandwidth, minimal latency, and reliable service continues to grow among businesses, Logix remains dedicated to delivering robust enterprise-grade fiber solutions. With its new investment and an invigorated leadership team, the company is set to accelerate its network expansion initiatives, roll out advanced connectivity solutions, and ultimately support the burgeoning digital economy across Texas.

Logix Fiber Networks has a well-established reputation for reliability, local support, and flexible solutions, making it a trusted choice for businesses seeking high-performance connectivity. The company connects to over 80 third-party data centers, ensuring that it meets the diverse needs of enterprise clients.

For further information about Logix Fiber Networks and its innovative services, you can visit their official website at Logix.com.

Conclusion

In summary, Logix Fiber Networks' recent recapitalization transactions signify a pivotal step towards strengthening its market position and operational capabilities. As the company looks to the future, it prepares to enhance its service offerings and infrastructure across Texas, thereby ensuring it remains at the forefront of the increasingly competitive telecommunications industry.