USA, Fibertech Networks Secures $75M in Debt Financing

Rochester, N.Y.-based Fibertech Networks, L.L.C., a provider of metropolitan bandwidth services in mid-size cities, has secured a new $75m senior credit facility.
The 4-year facility includes a $30m term loan and $45m revolver.
The syndicate financing was led by M&T Bank and included Bank of America, JPMorgan Chase and CoBank. The syndication closed on September 18th.
The funds will be used to build the company’s network, to fulfill customer contracts, and will also finance future network expansion plans
Founded in 2000, Fibertech investors include Nautic Partners of Providence, R.I., and Banc of America Capital Investors of Charlotte, N.C.

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