August 8th, 2023
High Point, North Carolina
Lumos Fiber (“Lumos”) successfully signed a $1.1B sustainability-linked infrastructure financing to fund its ambitious fiber roll-out plans and refinance existing indebtedness. This represents the first ever project finance style FTTH infrastructure financing in the US for an existing and integrated FTTH platform, and the first US FTTH sustainability-linked financing structure. This new financing underscores Lumos’ position as a leading US FTTH provider with a state-of-the-art roll-out machine and scale capabilities as well as the Company’s continued commitment to ESG.
“Today’s announcement is truly exciting and will enable Lumos to achieve our long-term fiber roll-out plans,” comments Brian Stading, CEO of Lumos. “We are thrilled to partner with financial institutions that share our company’s mission to build future-proof infrastructure and improve the quality of life for those in our communities.”
“We are proud to support the Lumos team in its mission to provide high quality fiber broadband in underserved markets across the Mid-Atlantic and Southeastern US and appreciate the support from our financing partners to also help support Lumos’ mission,” comments Nirav Shah, EQT Partner.
As a fiber internet provider, Lumos aims to drive positive change and progress within the telecommunications industry as a responsible environmental, economic, and social steward. This new financing facility includes a sustainability-linked mechanism, whereby the interest rate on the loan will be linked to several targets in line with Lumos and EQT’s overall mission.
EQT is a purpose-driven global investment organization with EUR 126 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.
Lumos provides 100% Fiber Optic Internet, whole-Home Wi-Fi, voice, and streaming services to more than 250,000 homes and businesses across its North Carolina, Virginia and, recently announced, South Carolina footprint. We believe that the possibilities of tomorrow cannot be built on the infrastructure of yesterday. That’s why we’re building a 100% Fiber Optic network from the ground up for families, small businesses, and communities, backed by local, expert customer service. An Internet built for that most hopeful of all things – the future. Because whatever the future holds, Lumos makes it faster. Learn more at www.lumosfiber.com.
Lumos Media Contact: