Lyte Fiber closes on $175M credit facility

"Lyte Fiber, LLC ("Lyte"), a rapidly growing Texas-based provider of 100% Fiber-to-the-Home broadband services, today announced the successful close of its inaugural debt financing, a $175 million construction loan facility to support an accelerated expansion of its next-generation fiber network."

"The financing, which contains a significant accordion feature, marks a significant milestone for Lyte Fiber, strengthening the company's capital structure and positioning it to broaden organic network expansion across dozens of underserved and high-growth communities, finance government-supported broadband initiatives and pursue strategic acquisitions."

"The credit facility is comprised of both a term loan and a revolving line of credit and will be used to fund Lyte Fiber's expanding community buildout pipeline, currently numbering nearly 20 concurrent markets across Texas. These include both privately-funded builds and projects supported by federal and state broadband grants."

""This inaugural debt raise is a defining moment for Lyte Fiber," said Carter Old, Chief Executive Officer of Lyte Fiber. "It is a tremendous vote of confidence in our management team, progress to date, and future growth plans by a first-rate group of banking partners. With this additional capital, we are better positioned than ever to scale our network, support grant-funded expansion, and pursue"

Lyte Fiber, a Texas provider of 100% Fiber-to-the-Home broadband, completed its inaugural debt financing with a $175 million construction loan facility. The facility includes a significant accordion feature and strengthens the company’s capital structure. The financing supports accelerated expansion of a next-generation fiber network across nearly 20 concurrent Texas markets, including privately funded builds and projects supported by federal and state broadband grants. The credit facility includes a term loan and a revolving line of credit, funding the community buildout pipeline. The capital also enables strategic acquisitions and positions Lyte as a leading FTTH provider in Texas.

Read at Telecompetitor