The continued support of our investors and lenders enables Zayo to extend our network into key customer locations and deliver on our promise to provide large bandwidth capacity over a growing network with deep reach.
Louisville, Colo. (PRWEB) October 3, 2008
Zayo Group, a regional provider of bandwidth and telecom solutions, announced today it has closed a $35 million debt facility amendment and finalized on schedule previously announced acquisition agreements for Columbia Fiber Solutions, the Adesta Communications Secured Creditor Trust and multiple fiber networks from Citynet.
These three acquisitions collectively add 945 metro and regional fiber route miles to Zayo's core fiber network plus 350 on-net buildings in 4 new markets in Colorado, Texas and Arizona and 6 existing markets in Illinois, Ohio, Tennessee, Washington, Idaho and New Jersey. Zayo's network now spans 19,645 miles, serving more than 1,650 on-net locations in 128 markets across 23 states.
The incremental term debt will allow Zayo to fund future mergers and acquisitions, while increasing its capital program in 2009.
By the end of this year, Zayo will have added over 600 new wireless towers and buildings to its network in 2008 in support of customer needs. This is in addition to the on-net buildings which were in-place at the time of the 11 acquisitions Zayo has made throughout 2007 and 2008.
"Our ability to secure debt financing in this economy reinforces confidence in our underlying long-term business objectives," said John Scarano, COO of Zayo Group and President of Zayo Bandwidth. "The continued support of our investors and lenders enables Zayo to extend our network into key customer locations and deliver on our promise to provide large bandwidth capacity over a growing network with deep reach."
Kendall, Koenig & Oelsner PC has represented Zayo from its inception.
About Zayo Group
Based in Louisville, Colo., Zayo Group (http://www.zayo.com) is a regional provider of telecom services - including bandwidth, voice and managed services - to carrier, enterprise, SME and government customers. Zayo Group provides its service over a fiber network that spans 128 markets in 23 states. Zayo Group consists of three complimentary business units, Zayo Bandwidth, Zayo Managed Services and Onvoy Voice Services.
Zayo Group has strong financial backing from five experienced telecom and Internet investors: Columbia Capital (http://www.colcap.com), M/C Venture Partners (http://www.mcventurepartners.com), Oak Investment Partners (http://www.oakinv.com), Battery Ventures (http://www.battery.com) and Centennial Ventures (http://www.centennial.com). Zayo's significant financial backing provides the flexibility to extend and enhance its services and fiber network to support the ever-increasing bandwidth appetite of its customers.
About Zayo Bandwidth
Zayo Bandwidth owns and operates fiber optic networks in regions throughout the US, providing bandwidth services including Private Line, Wavelength, Ethernet, Internet and Colocation. Zayo Bandwidth customers include carriers, web-centric companies, public institutions and enterprises. Zayo Bandwidth's mission is to provide fiber-based bandwidth, responsive solutions and a growing network.
About Zayo Managed Services
Zayo Managed Services provides telecommunications, networking and web-based solutions to businesses, schools, hospitals, financial institutions, government agencies and non-profit organizations across the United States. Large, multi-site corporations to small, single-site agencies rely on the expertise of Zayo Managed Services.
About Onvoy Voice Services
Onvoy Voice Services provides tandem switched access, long distance, SS7, directory assistance and operator services to local exchange carriers (LEC) and other communications providers. Onvoy Voice Services Operates one of the largest privately owned IP networks in Minnesota and, through peering agreements with other providers, can offer cost-effective solutions both regionally and nationally.
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