Wyyerd Fiber closes on senior secured debt facility

May 4, 2023
Wyyerd President and CEO John Scarano said the money will go towards funding new FTTP deployments.

Wyyerd Fiber, which is building fiber to the premises (FTTP) infrastructure Arizona and California, says it has completed a first-close on a senior secured debt facility from a syndicate of lenders led by Woodforest National Bank. The broadband services provider did not reveal the size of the facility, other than to assert that it “materially” surpassed the amount the company had targeted.

In addition to Woodforest National Bank, the syndicate includes joint lead arrangers Third Coast, Sunflower, Cross First and Texas Capital Bank, as well as Axiom and ING Capital. Equity investors in the company include funds managed by global investment firm Carlyle (NASDAQ: CG), Columbia Capital and several others Wyyerd Fiber has not named.

Wyyerd President and CEO John Scarano said the money will go towards funding new FTTP deployments. “The team and our sponsors are genuinely appreciative for this supportive investment, which will enable us to further increase our growth trajectory,” he said.

“Wyyerd Fiber has demonstrated the ability to rapidly deploy network and acquire customers in attractive markets, validating the platform’s execution capabilities and the sustained demand for a fiber-based offering,” said Josh Pang, managing director and head of digital infrastructure at Carlyle. “We believe the company has a long runway of growth in its attractive Southwestern U.S. footprint and that Wyyerd’s total addressable market opportunity will extend beyond its current fiber network and into many additional, attractive geographies.”

“We believe this outcome amidst challenging credit markets speaks to the quality of Wyyerd’s pure-play fiber assets and platform. This facility will be instrumental in fueling Wyyerd’s near-term growth trajectory and we look forward to future opportunities to partner with our valued lenders for the company and across our portfolio of infrastructure assets,” added Pete Taylor, managing director and partner on Carlyle’s Infrastructure team.

This article was amended from the original with the addition of the quote from Josh Pang.

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About the Author

Stephen Hardy | Editorial Director and Associate Publisher, Lightwave

Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.

Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.

He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.

You can connect with Stephen on LinkedIn as well as Twitter.

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