Ubiquity Secures Green Financing to Accelerate Open Access Fiber Network Deployments
CHARLOTTE, N.C., Nov. 28, 2023 /PRNewswire/ -- Ubiquity, a U.S. digital infrastructure owner, developer, and operator focused on developing open access fiber-to-the-premise networks, announced today that the company has closed on its inaugural Green Loan, a senior secured green revolving debt facility from a syndicate of lenders led by Woodforest National Bank.
Ubiquity will use the newly committed funds to accelerate deployment of open access fiber networks in its operating regions of Texas, California, Arizona, and Nebraska, and to continue serving its communities with sustainable premium fiber services.
"Ubiquity, on behalf of its investors, has deployed significant capital into our core markets over the past few years," said Jamie Earp, Ubiquity co-CEO and Managing Partner. "Today, we are pleased to partner with our new bank syndicate, led by Woodforest National Bank, together with joint lead arranger, CrossFirst Bank, as well as Axiom, Bank of Blue Valley and Susser Bank to enable further deployment of premium fiber infrastructure to our stakeholders."
Ubiquity's equity sponsors include sustainable infrastructure investment firm Generate Capital. "We are pleased with this commitment to accelerating sustainable fiber infrastructure development for residential, commercial and enterprise customers, as well as schools and municipalities across the U.S., in alignment with Green Loan Principles and Generate's Green Financing Framework," said Andrew Marino, Senior Managing Director at Generate Capital. "Generate looks forward to our continued partnership with Ubiquity and supporting the company's growth plans. These digital infrastructure assets are a critical component of community development driving positive impacts for all stakeholders in an environmentally sustainable way."
Ubiquity's last-mile infrastructure is enabling a new generation of connectivity and compute solutions that foster economic growth and development. Ubiquity's differentiated business model focuses on providing customer choice and spurring competition, both essential components of serving communities for the long term. Robust last-mile open-access fiber networks are critical to delivering unmatched network performance, cost and security for applications and services demanded by customers, and Ubiquity is a leader of this effort in the United States.
"Ubiquity's goal is to invest and develop digital infrastructure that empowers communities for the future," said Ajay Ghanekar, Ubiquity co-CEO and Managing Partner. "Fiber technology, paired with the deep experience of our best-in-class network teams, allows us to construct networks with more flexibility than ever before, and at a pace of development that is only surpassed by the largest regional and national service providers."
"Together with our credit partners we are pleased to support Ubiquity's continued expansion of its digital networks and help continue its track record of bringing 21st century connectivity solutions to customers in the markets it serves," said Randy Humphreys, Executive Vice President, TMT Banking, of Woodforest National Bank.
About Ubiquity
Ubiquity invests, develops, and manages digital communications infrastructure throughout the United States. The company partners with ISPs, wireless carriers, utilities, and municipalities to deliver connectivity and sustainability solutions in underserved communities. Its mission is to provide customer choice and spur competition, both of which are essential components of empowering communities for the future. Please visit ubiquitygp.com for more information.
About Generate Capital
Generate Capital, PBC is a leading sustainable infrastructure company driving the infrastructure transition. Generate builds, owns, operates and finances solutions for clean energy, transportation, water, waste, agriculture and smart cities infrastructure. Founded in 2014, Generate partners with over 50 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution the money and help they need to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to thousands of customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit http://www.generatecapital.com.
About Woodforest National Bank
Woodforest National Bank is a leading privately owned bank that has provided excellent customer service since 1980. Woodforest offers a wide variety of services to their customers and has extensive experience in lending with over $5 billion in loans on their balance sheet. The bank offers loans such as lines of credit and term loans to commercial customers.
SOURCE Ubiquity
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