Quickline backed by UK Infrastructure Bank and NatWest

Quickline has secured a £125m term loan and £100m debt guarantee from The UK Infrastructure Bank, alongside a £25 million term loan provided by NatWest.

The term loans and guarantee form a £250m debt package to support Quickline’s target of passing more than 500,000 rural premises across Yorkshire and Lincolnshire.

The altnet has recently secured four contracts under the UK government’s Project Gigabit programme, connecting almost 170,000 premises to full fibre in hard-to-reach rural areas.

 As a result of the investment, Quickline will also expand its commercial network to a further 190,000 in these rural communities.

Sean Royce CEO at Quickline, said: “This demonstrates UKIB’s confidence in our strategic vision and operational capabilities. It also reflects a broader investor interest in tackling the digital divide that

“This partnership will support our deployment of vital connectivity infrastructure, bringing essential digital services to even more rural communities in dire need of improved broadband and kickstart economic growth across rural Yorkshire and Lincolnshire.”