Ziply to expand US fibre network with $350m loan
The company that last year bought Frontier Communications’ operations in the north-west of the US has borrowed US$350 million to expand its fibre networks.
Ziply, the trading name of Northwest Fiber, said it already has 500,000 customers in the states of Washington, Oregon, Idaho and Montana, and said the loan will help it expand into new areas.
Frontier sold its operations in the four states last year for $1.35 billion at the depths of its financial problems. Since then Nick Jeffery, former head of Vodafone UK, has taken over as CEO and the company has emerged from Chapter 11 bankruptcy protection.
Ziply operates fibre services in 52 markets in the four states, including many rural and smaller communities. It said the additional funding will help its achieve its fibre expansion plans, which previously targeted reaching 80% of its footprint by 2024.
The company said the loan “will ensure that we have the resources on hand to keep up the strong pace of construction we’ve set for ourselves as we head into the new year, and to continue to deliver on our goal to providing the best connected experience possible for people in the Northwest”.
CEO Harold Zeitz told media that Ziply is planning to move from GPON fibre technology to XGS-PON.