Community Fibre secures further funding for its FTTP rollout

11 Oct 2022

London-based ISP Community Fibre has announced the signing of a new finance facility of GBP985 million (USD1.1 billion) which it said will ‘enable the company to continue to execute its rapid rollout of a full-fibre broadband network to 2.2 million London homes by the end of 2024’.

According to the company, the financing is made up of GBP685 million committed facilities with a further GBP300 million ‘uncommitted accordion’ (i.e. a buy option that allows the company to increase its line of credit). Community Fibre said it was advised by Rothschild & Co, while it noted this secured finance facility follows on from the GBP400 million investment announcement made in 2020, when the ISP reached a majority stake agreement with funds advised by Warburg Pincus LLC and DTCP, alongside its existing investors Amber Infrastructure and RPMI Railpen.

Graeme Oxby, Community Fibre’s CEO, said of the matter: ‘We are delighted that lenders have seen the impact of our ever increasing network and the level of customer interest in faster, more reliable and more affordable broadband access … We will now be able to accelerate our network rollout and bring these benefits to a much larger number of customers.’

Meanwhile, alongside announcing the new finance facility, Community Fibre also confirmed that its infrastructure now reaches 675,000 premises across London and the South East.

United Kingdom, Community Fibre