Real assets manager Stonepeak and Canadian investor La Caisse have backed a $250m (€215.3m) debt financing facility for US dark fibre infrastructure firm BIG Fiber.
BIG Fiber said the financing, which was led by Stonepeak’s credit arm and La Caisse, features an additional $100m accordion option, a provision in the agreement that enables BIG Fiber to increase the total amount of financing available under the agreement without renegotiating the entire contract, and provides the company with significant capital to progress its core market expansion.
BIG Fiber, which is sponsored by Columbia Capital and SDC Capital Partners, said the proceeds of the financing will be used to “refinance existing debt, provide new capital and facilitate the necessary headroom for major network expansions already underway”.
Bruce Garrison, CEO of BIG Fiber, said: ”Our partnership with Stonepeak Credit and La Caisse marks a pivotal moment in our mission to empower our customers with highly scalable and purpose-built dark fiber solutions.
“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.”
Arun Varanasi, managing director at Stonepeak Credit, said: ”BIG Fiber’s infrastructure delivers critical bandwidth to meet the insatiable demand for both data and compute capacity across its key markets.
“We are proud to partner with Columbia Capital, SDC Capital Partners and La Caisse to support the company’s next leg of growth as it positions itself as one of the preeminent dark fiber operators in the country.”
Jérôme Marquis, managing director and head of private credit at La Caisse, said: ”BIG Fiber is well positioned to meet the growing connectivity needs of enterprises and data centers seeking new, high-quality infrastructure options.
“Its resilient business model, underpinned by long-term contracts and strong structural demand, positions the company well for growth. Together with Stonepeak Credit, we’re providing a tailored financing solution that supports the continued buildout of essential digital infrastructure.”
To read the latest IPE Real Assets magazine click here.
