Ubiquity lands $420M in funding to expand fiber network

A Charlotte-based telecommunications company has landed $420 million in financing to help fuel the expansion of its fiber connectivity across four markets.

Ubiquity plans to expand its open-access fiber networks in the following core markets: Texas, California, Arizona and Nebraska. The funding will enable the company to deliver high-speed internet to underserved communities and businesses while adhering to sustainable development principles, the firm disclosed yesterday.

The financing milestone includes the closing of a $275 million green construction credit facility spearheaded by Goldman Sachs Group Inc. (NYSE: GS) and Nomura Holdings Inc. (NYSE: NMR). It also includes an expanded $145 million green revolving credit facility managed by Woodforest National Bank in collaboration with other syndicate lenders.

“The continued support from investors and lenders will facilitate the efficient deployment of capital into Ubiquity’s core markets and delivery of best-in-class broadband to the customers and communities we serve,” Jamie Earp, Ubiquity co-CEO and managing partner, said in a statement.

These funds are complemented by equity from sponsors Generate Capital PBC and 1248 Holdings. Ubiquity said both financing facilities align with Green Loan Principles and Generate’s Green Financing Framework, underscoring Ubiquity’s commitment to sustainable infrastructure development.

Ubiquity, founded in 2019, is working to redefine digital connectivity in the U.S. with its distinctive open-access model. Designed for flexibility and scalability, the company’s fiber networks support multiple tenants, offering both lit and dark fiber solutions to address residential, business and carrier needs.

By combining cutting-edge engineering with energy-efficient practices, Ubiquity said it aims to pave the way for a more sustainable and connected future.

“Since inception, Ubiquity’s unique vision and ability to deliver open-access fiber networks at scale continues to deliver value to stakeholders through rapid deployment and customer acquisition,” Ajay Ghanekar, Ubiquity’s co-CEO and managing partner, said in a statement.

To date, Ubiquity has connected hundreds of thousands of locations within its core markets, making it one of the largest privately financed fiber-to-the-premise developers in the U.S.

This success has been further amplified by a recently announced collaboration with AT&T, which includes plans to integrate AT&T as a tenant on existing Ubiquity networks and pursue exclusive fiber builds in new areas. BizJournals