FirstDigital Telecom finalizes its senior debt financing
SALT LAKE CITY, December 24, 2021 / PRNewswire / – FirstDigital Telecom (“FirstDigital” or “the Company”), a leading fiber-based operator in the west United States, today announced that it has raised debt financing from a group of leading investors (“the Lenders”), including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.
Following the transaction, FirstDigital recapitalized its balance sheet with high quality institutional lenders and consolidated its ownership of common shares under the leadership of the President and CEO. Wesley mcdougal. This follows the recent $ 200 million Preferred equity investment by Apollo Managed Infrastructure Funds (NYSE: APO) as FirstDigital continues to attract blue chip capital partners and prepares the company to scale. Having successfully executed these series of transactions, the Company is uniquely positioned to execute its ambitious growth plans.
âThese recent transactions allow FirstDigital to accelerate our strategy and meet the growing demand for telecommunications services,â McDougal said. “We appreciate the support of the new group of lenders and Apollo’s strategic partnership to help us execute this transaction.”
âFirstDigital is a leading fiber operator in the South West region, and we are delighted to have provided our strong institutional support at this key stage of the company’s growth plans,â said Dylan foo, partner and co-head of infrastructure at Apollo.
Apollo Global Securities was the placement agent for FirstDigital and Simpson Thacher & Bartlett LLP and Parr, Brown, Gee & Lovelace were legal advisers to FirstDigital. White & Case LLP served as legal counsel to the lenders.
FirstDigital Telecom is a leading fiber-based operator in the Western United States providing a full range of business services including local voice, long distance, Internet, VoIP, colocation, managed services and fiber to tower / site. Since 2000, FirstDigital has built, operated and maintained fiber networks for business, government, healthcare, education and financial institutions. The company’s customer-centric model provides customers with overall economic value, an industry-leading quality of service experience, and increased business productivity.
FirstDigital’s all-fiber network provides robust enterprise fiber services including dedicated Internet access, dark fiber, Ethernet and data center solutions. The company’s advanced fiber optic network offers direct peering with all major cloud carriers and hyperscalers. With high-speed, low-latency connections, it delivers converged Internet, voice and data services at speeds up to 100 Gbps.
To learn more about FirstDigital and our network offerings, visit FirstDigital.com.
SOURCE FirstDigital Telecom