Intrepid Fiber Networks Raises $290 Million to Fund its Commitment to Provide Nationwide Wholesale Open Access Fiber Broadband Service
Intrepid Fiber Networks ("Intrepid"), a leading fiber-to-the-premises provider supported by Brookfield, announced today that it has secured $290 million in debt financing with Société Générale as Structuring and Coordinating Advisor. The proceeds will support Intrepid's inaugural deployments in Colorado and Minnesota to over 250,000 premises.
"Securing this new credit facility accelerates our growth across the entire build plan. We have already achieved tremendous success constructing our networks and onboarding subscribers through our partners," said Jack Waters, Chief Executive Officer of Intrepid. "This exciting step forward reinforces our commitment to delivering future-proof fiber networks that provide symmetrical gigabit speed to meet our end users' broadband needs, while providing customers more options in choosing their preferred Internet Service Provider."
Intrepid expects continued growth across its announced markets and is evaluating new market deployments, with a vision to bring an open access network to premises across the nation.
About Intrepid:
Founded in 2021, Intrepid Fiber is a pioneering Fiber-to-the-Premises platform championing a Wholesale Open Access Model. Intrepid's mission is to deliver world-class fiber to communities throughout the United States and meet the broadband demands of the future.
To learn more, please visit intrepidfiber.com.
About Brookfield:
Brookfield Asset Management (NYSE:BAM, TSX:BAM) is a leading global alternative asset manager with over $925 billion of assets under management. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
Brookfield Infrastructure
Brookfield operates Brookfield Infrastructure Partners (NYSE:BIP, TSX:BIP), a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe.
Forward-Looking Statements
Certain statements contained herein or made by management constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations about our plans and future performance and speak only as of the date of this press release. We do not undertake to update these statements. Our expectations (or the underlying assumptions) may change or not be realized, and you should not unduly rely on forward-looking statements.
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