SALT LAKE CITY, Dec. 24, 2021 /PRNewswire/ — FirstDigital Telecom (“FirstDigital” or “the Company”), a leading fiber optic carrier in the western United States, announced today that it has secured debt financing from a group of leading investors (“the lenders”), including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.
As a result of the transaction, FirstDigital has recapitalized its balance sheet with high-quality institutional lenders and consolidated its common stock holdings under President and CEO Wesley McDougal. This follows the recent $200 million preferred equity investment by infrastructure funds managed by Apollo (NYSE:APO) as FirstDigital continues to attract blue-chip capital partners and prepares the company to scale. Having successfully completed this series of transactions, the Company is optimally positioned to execute on its ambitious growth plans.
“These recent transactions position FirstDigital to accelerate our strategy and meet growing demand for telecommunications services,” said McDougal. “We appreciate the support of the new lender group and of Apollo’s strategic partnership to help us complete this transaction.”
“FirstDigital is a leading fiber operator in the Southwest region and we are pleased to have provided our strong institutional support for this important milestone in the company’s growth plans,” said Dylan Foo, Partner and Co-Head of Infrastructure at Apollo.
Apollo Global Securities was the placement agent of FirstDigital and Simpson Thacher & Bartlett LLP and Parr, Brown, Gee & Lovelace were legal counsel to FirstDigital. White & Case LLP acted as legal counsel to the lenders.
FirstDigital Telecom is a leading fiber optic provider in the western United States offering a full range of business services including local voice, long distance, Internet, VOIP, CO location, managed services and Fiber-to-the-Tower/Premise. FirstDigital has been building, operating and maintaining fiber optic networks for companies, government, healthcare, education and financial institutions since 2000. The company’s customer-centric model provides customers with overall economic value, industry-leading quality of service and increased business productivity.
FirstDigital’s fiber network provides robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. The company’s advanced fiber network provides direct peering with all major carriers and cloud hyperscalers. With fast, low-latency connections, it provides converged Internet, voice, and data services at speeds of up to 100 Gbps.
For more information about FirstDigital and our network offerings, visit FirstDigital.com.
SOURCE FirstDigital Telecom