NEW YORK, July 17, 2024 -- Tillman FiberCo, LLC ("Tillman Fiber"), a leading developer of open-access fiber infrastructure, today announced the successful closing of $815 million in committed debt financing. The financing will support the deployment of fiber-to-the-home (FTTH) networks throughout Florida, with the new credit facility providing for up to $200 million of additional term loans.
This significant capital infusion comes on the heels of Tillman Fiber's Florida expansion earlier this year and will enable the rapid deployment of high-speed and reliable fiber infrastructure across the state.
The financing arrangement, led by a syndicate comprising Crédit Agricole Corporate and Investment Bank, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, Société Générale and Banco Santander, S.A., New York Branch, underscores the strong confidence in Tillman Fiber's strategic vision and management's operational excellence.
"This additional financing represents a transformative moment for Tillman Fiber as we accelerate the deployment of our FTTH network in Florida and beyond," said Phil Cusick, Chief Financial Officer of Tillman Fiber. "Our open-access infrastructure model is instrumental in providing high-quality broadband services to communities and supporting our broader mission of promoting digital inclusion. With the rise in remote work, the increasing demand for 8K video streaming, gaming, and the growing significance of artificial intelligence applications, our network is exceptionally positioned to meet these evolving requirements. We are honored to have the backing of such a distinguished group of financial partners and customers who share our commitment to advancing connectivity."
This capital raise is in addition to an initial investment of $250 million from Northleaf Capital Partners, a leading global private markets investment firm, with the potential to invest up to $250 million more as Tillman Fiber scales its operations. Tillman Fiber is part of the Tillman Global Holdings portfolio, a holding company that invests in, owns and operates telecommunications and energy infrastructure businesses.
Tillman Fiber is steadfast in its commitment to delivering top-tier connectivity solutions that cater to the needs of its customers and support the continuously evolving digital landscape.
About Tillman Fiber
Founded in 2021, Tillman Fiber designs, builds, and operates a 100% Fiber to the Premise (FTTP) network that delivers industry leading symmetrical gigabit broadband internet access and services to residential and commercial customers. Tillman Fiber will provide other point-to-point telecommunications services, such as dark fiber, ethernet, and high-capacity special access services, over its fiber network to enterprise and wholesale customers across all industries. For more information, please visit https://tillmanfiber.com/.
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