Gigaclear secures funding for rollout plans

20 Dec 2021

Gigaclear, which is focused on the rollout of fibre-to-the-premises (FTTP) infrastructure in rural areas of the UK, has announced that it has secured the next phase of its funding to support its FTTP rollout to 500,000 homes and businesses. In a press release the operator said the GBP190 million (USD251 million) debt facility – which has been provided by ING, ABN Amro, ING, Lloyds Bank, NatWest, NIBC and UKIB – would enable it to reach its target by 2023.

Commenting, Gigaclear CFO Ian Wade said: ‘This round of debt funding secures our ability to deliver our target of connecting 500,000 homes and businesses to our ultrafast, full-fibre network by 2023 … We are grateful to our investors for this show of confidence and look forward to ramping up our roll out in the years to come.’

United Kingdom, Gigaclear