Xplornet announces $1.5B of financing completed

WOODSTOCK, NB – Rural broadband provider Xplornet Communications Inc. announced today it has enhanced its financial flexibility by refinancing and expanding its debt facilities in order to accelerate its plans for fibre-to-the-home and 5G wireless broadband. On Oct. 1, the company “closed on a term loan financing transaction that encompassed a seven year first-lien facility of US $995 million and an eight year second-lien facility of US $200 million, totalling approximately CDN $1.5 Billion,” a press release says. “In addition to the two term loans, Xplornet will have a C$160 million revolver due 2026, that is undrawn at close.” The...