Everstream gets $150 million to expand fiber network in U.S.

By Mary-Katherine Stinson

Lexington, Ky., May 5 – Everstream received a $150 million investment in a senior credit facility, equivalent to C$190 million, from Caisse de depot et placement du Quebec’s wholly owned subsidiary CDPQ Revenu Fixe VIII Inc., according to a press release.

This commitment is part of the previously announced refinancing of over $1 billion of Everstream's overall debt capital arrangement, which includes senior and junior tranches.

The financing will support the expansion of Everstream’s business-only fiber network across the Midwest and Mid-Atlantic regions of the United States and is part of a hybrid OpCo/HoldCo financing model to refinance Everstream's existing credit facilities and offer flexible capital for further network growth and densification.

Everstream is a Cleveland-based fiber telecom provider.

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