Netomnia and YouFibre raise £230m in debt financing from six banks to expand fibre network
The debt financing package is provided by a syndicate including HSBC UK, ING, and Standard Chartered.
Netomnia is a UK broadband provider that builds full fibre networks to deliver multi gigabit internet services to homes and businesses.
Netomnia and its internet service provider sister firm YouFibre have secured £230m in debt financing from a syndicate of six lenders to support their ongoing network expansion.
The capital was provided by HSBC UK, ING, NIBC, RBC, Standard Chartered, and UKIB. The financing package also features an accordion option to increase the facility in the future as the business scales.
The funding arrives as Netomnia surpasses 410,000 premises in its fibre rollout while serving 28,000 connected customers. Executives note that the financing will accelerate the deployment of high speed broadband amid a challenging economic climate.
From the founder
"We are very pleased to welcome this new group of lenders to Netomnia and are thrilled they have chosen to support the continued acceleration of our business. The enthusiasm from these institutions to support our business is a testament to our successes at Netomnia and YouFibre, and our unique approach to building our full fibre network and providing best-in-class Internet speeds and services to customers across the UK."
Wil Wadsworth
CFO at Netomnia
Use of funds
- 01Build out infrastructure