Gateway Fiber Secures $250 Million for Expanded Fiber Network
Gateway Fiber's Strategic Financing Announcement
Gateway Fiber, recognized as a pivotal player in the fiber internet landscape, has successfully closed an incremental debt financing round of $75 million. This important step bolsters Gateway's ongoing mission to expand its fiber network through 2025.
Significant Financial Growth
This year alone, Gateway has raised a remarkable total of $250 million in debt financing. The expansion comes with the backing of Texas Capital, who serves as the Administrative Agent, along with Texas Capital Securities as the Lead Arranger. Additionally, key partnerships with JPMorgan Chase Bank, Third Coast Bank, and CIBC have propelled Gateway into a favorable position for future growth.
Support and Confidence in Growth
The support from these financial entities, along with the guidance and expertise of Gateway’s equity sponsor, CBRE Investment Management, provides a robust financial foundation for Gateway. This allows the company to confidently pursue further development and address the rising demand for reliable fiber internet.
Gateway Fiber's Ambitious Goals for 2025
“We appreciate the tremendous support of Texas Capital, our lenders, and CBRE IM,” stated Betsy Toney, CFO of Gateway Fiber. She emphasized that having a solid balance sheet coupled with strategic capital partners instills great confidence in the company’s ability to grow its platform well into 2025. The focus will be primarily on enhancing their service offerings for both residential and commercial customers.
Continued Investment in Customer Experience
Gateway is steadfast in its commitment to improving service quality as it expands its operations. The company believes that by investing in its infrastructure, they can meet, and even exceed, customer expectations. This is particularly critical in an environment where high-speed internet has become a necessity for both work and leisure activities.
About Gateway Fiber
Gateway Fiber is dedicated to connecting communities with a fairer, friendlier, and faster internet experience. As the demand for high-speed internet continues to grow, Gateway aims to establish a leading fiber-to-the-home network. Their value proposition is grounded in offering faster, reliable internet alongside a transparent pricing strategy and industry-leading customer service.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a crucial participant in the financial services industry, operates with a comprehensive suite of offerings that span commercial banking and wealth management. Founded in 1998, with headquarters in Dallas, Texas Capital has made strides in creating robust banking solutions that cater to a diverse clientele across the country.
About CBRE Investment Management
CBRE Investment Management is an influential player in the global real assets sector, managing approximately $148.3 billion in assets. Operating in over 30 offices worldwide, CBRE IM thrives on delivering sustainable investment solutions while helping individuals and communities flourish.
Frequently Asked Questions
What is the total debt financing raised by Gateway Fiber this year?
Gateway Fiber has raised a total of $250 million in debt financing this year to support its growth initiatives.
Who are the key partners involved in Gateway Fiber's financing?
Texas Capital serves as the Administrative Agent, with crucial contributions from JPMorgan Chase Bank, Third Coast Bank, and CIBC.
What are Gateway Fiber's growth plans for 2025?
Gateway plans to continue expanding its fiber network while enhancing the quality of service for its residential and commercial customers in the coming years.
How does Gateway Fiber differentiate itself in the market?
Gateway Fiber focuses on providing faster, reliable internet along with a straightforward pricing model and exceptional customer service.
What is the role of CBRE Investment Management in Gateway Fiber's strategy?
CBRE Investment Management acts as an equity sponsor, providing crucial support and guidance for Gateway's financial growth and strategic direction.
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