Xplornet secures more than $150M in financing for network enhancements

WOODSTOCK, NB - Xplornet Communications has completed a $158 million private financing transaction to support its ongoing subscriber growth and enhance its rural broadband network, the company said Monday. The transaction consists of $148 million of new debt and equity and $10 million in refinanced debt. The company said that the additional funding, which comes from both new and existing investors, is an endorsement of its “unwavering commitment to the continuing development of rural broadband in Canada”. “This sizable investment in rural Canada is another example of the commitment from our private sector investors to support our mission of delivering...