#United States #Sunnyvale #BIG Fiber #La Caisse #Stonepeak Credit

BIG Fiber Secures Significant Financing for Infrastructure Boost

In a groundbreaking move within the telecommunications landscape, BIG Fiber has announced the successful closing of a $250 million debt facility. This financing has been spearheaded by Stonepeak Credit and La Caisse, marking a substantial advancement for the provider of high-capacity dark fiber infrastructure. This strategic financial influx aims to accelerate BIG Fiber's existing efforts towards expanding its digital infrastructure across key U.S. markets, solidifying its role as a leading entity in the sector.

Significant Milestone

This financing round is historic, especially as it follows BIG Fiber's achievement of securing the first-ever green loan in the dark fiber market in 2024. This new $250 million capital injection signifies a pivotal scaling of financial capacity for the company, allowing it to expand its reach and offerings significantly. Also included in the financing is a $100 million accordion feature, which offers the company additional flexibility towards future investments.

Meeting Modern Demands

The funds from this facility will primarily be directed towards refinancing existing debts while providing necessary capital for ongoing network expansions. A key part of this initiative will see a significant expansion in the Greater Atlanta area, where over 205 route miles and 165,000 fiber miles are set to be added to its already impressive footprint.

Bruce Garrison, CEO of BIG Fiber, articulated the critical nature of this partnership with Stonepeak Credit and La Caisse, emphasizing its importance in meeting the rising demand for digital infrastructure. “This financing ensures we have the scale to stay ahead of the escalating demand for modernized infrastructure enabling the AI ecosystem and the necessary digital highways for decades to come,” he stated.

Strategic Partnerships

Arun Varanasi, Managing Director at Stonepeak Credit, reinforced the essential role that BIG Fiber plays in meeting the growing bandwidth demands. With Stonepeak's backing, BIG Fiber is well-positioned to continue its trajectory of rapid growth, delivering the necessary infrastructure to support dynamic data and compute capacity needs across its markets.

Moreover, Jérôme Marquis, Managing Director at La Caisse, praised BIG Fiber's business model, noting its robustness derived from long-term contracts and steady demand for infrastructure solutions. The partnership with Stonepeak allows for a custom financing solution that addresses ongoing expansion needs while significantly enhancing BIG Fiber's scalability.

Expanding Network Capacity

Once implemented, the latest expansion project will enhance BIG Fiber's already extensive network in Atlanta and will also be pivotal for its operations in the San Francisco Bay Area. The planned capacity expansion aims to elevate the total network reach to 850 route miles and over 3 million fiber miles, creating substantial efficiencies and opportunities for clientele, particularly data centers and enterprise customers seeking reliable infrastructure options.

As BIG Fiber continues to construct and finalize projects, phased Ready for Service (RFS) dates are anticipated in early 2027, further cementing BIG Fiber's stature as a premium provider in the digital infrastructure arena.

About BIG Fiber

Founded in 2019 and headquartered in Sunnyvale, California, BIG Fiber has emerged as a pivotal player in the metro dark fiber industry, offering strategically placed networks essential for mission-critical data needs. With over 320 route miles in the San Francisco Bay Area and additional networks in Greater Portland and Greater Atlanta, BIG Fiber serves a vital role in providing high-capacity dark fiber necessary for contemporary digital enterprises.

For more information on its objectives and services, visit BIG Fiber's website to discover how it is reshaping the future of digital infrastructure.

About Stonepeak Credit

Stonepeak Credit is part of Stonepeak, an alternative investment firm specializing in infrastructure with around $88 billion in assets. They focus on credit investments that align with sectors providing essential services while ensuring sustainable revenue generation.

About La Caisse

With over 60 years of investment experience, La Caisse plays an instrumental role in achieving long-term financial returns. As a significant global investment entity, La Caisse actively engages in sectors like infrastructure and private equity, contributing substantially to Québec's economic development.