FiberLight, a growing fiber-based competitive provider, has secured $97.2 million in new funding from a number of creditors led by CoBank.
Kevin Coyne, FiberLight's CFO, said the company will use the new funds for various purposes, including "to refinance existing debt, fulfill customer contracts, and fund future success based opportunities."
The service provider has been busy embarking on various growth-driven projects throughout the markets it serves.
One particular market that has been a key focus for FiberLight is Texas' DASH (Dallas-Austin-San Antonio-Houston) market, where it has built out 8,000 miles of fiber and a 100 Gbps-capable long-haul network.
In Texas the service provider has also become one of the major providers of wireless backhaul to Sprint's Clearwire and other Tier 1 wireless players.
Outside of Texas, FiberLight has been expanding its fiber-based network in a number of key cities, including Baltimore, Charlottesville, Va., and Miami.
Virginia, in particular, continues to be a hot spot for FiberLight. The company recently won a 20-year dark fiber contract with the University of Virginia that will leverage the 46-mile direct underground fiber network it began building in 2010 with a connection from Culpeper, Va., to Charlottesville.
For more:
- see the release
Related articles:
FiberLight snags 20-year dark fiber agreement with Univ. of Virginia
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FiberLight extends fiber network into Texas DASH market