Bluebird Network, a U.S. communications infrastructure provider and operator of more than 11,000 miles of fiber and two data centers,received $285 million of five-year Senior Secured Credit Facilities.
The company said it has used the credit facilities to refinance its existing indebtedness and to fund ongoing capital expenditures including network upgrades, expansion into new markets, and an awarded Middle Mile grant build.
TD Securities acted as Lead Left Arranger on the financing and is the Administrative Agent for the Credit Facilities.
“We’re thrilled to announce the closing of this refinancing,” says Michael Morey, President and CEO of Bluebird Network. “It’s a point of pride that we’re viewed by lenders as a trustworthy company to work with.”
Over the past year, Bluebird has built more than 360 new route miles of fiber and expanded into several additional markets throughout Missouri, Illinois and Iowa. This new financing provides Bluebird with the capital to execute development plans in accordance with the company’s strategic vision to have a fiber presence in 80 percent of cities with a population of 10,000 people or more across its 11-state footprint in the Midwest. Beyond market densification projects, in 2024, Bluebird is planning additional long-haul fiber routes and recently completed an underground river crossing in St. Louis, traversing the Mississippi River and adding a new, diverse route to its network offerings. In 2023, the company was awarded a grant as part of the U.S. Department of Commerce's Enabling Middle Mile Broadband Infrastructure Program. The grant will be used to build a highly desirable route connecting St. Louis and Tulsa, which is expected to be completed over the next four years.
