TalkTalk is nearing completion of refinancing, following a cash injection of £235m made available by its existing shareholders, the company has said in a recent update.
Thu, 24/10/2024 - 12:52
Community Fibre has signed a new finance facility provided and/or arranged by JP Morgan, Barclays, LBBW, SIMCo (Sequoia Investment Management Company) and Alpha Bank.
The additional funding raised a total of £125m, overachieving planned targets and bringing total investment in the company to £1.1bn.
Graeme Oxby, CEO of Community Fibre, said, “Our success here, growing from just 10,000 customers at the start of 2020 to more than 310,000 in less than five years, has driven a strong lender appetite.
“We and our financial backers are aligned on driving acquisition growth and confident in overachieving our penetration targets.”
Olaf Swantee, Chairman of Community Fibre added: “The lenders and our shareholders share the view that Community Fibre’s momentum will further strengthen its position as one of London's largest full fibre only providers, and is a vote of confidence in its strong management team and their ability to commercialise the large London network.”