Wednesday, November 14, 2007

Zayo Bandwidth Raises $85 Million for Midwest Fiber Networks

Zayo Bandwidth, a regional provider of fiber based bandwidth services, secured an $85 million debt facility led by CIT Group, Inc. with CoBank and Hercules Technology Growth Capital, Inc. as co-sponsors of the facility.

The financing announcement comes on the heels of Zayo's acquisition of Minneapolis, Minn. based telecommunications provider, Onvoy, the fourth acquisition the company has completed since the end of July. The company now owns and operates more than 8,400 miles of fiber network in the Northeast, the South and the Midwest.

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