Gee whiz: G.Network raises $1.3B for full fiber rollout in London
Through a mixture of debt and equity, UK altnet G.Network has raised in excess of £1 billion (US$1.3 billion) to expand its "full fiber" rollout in London. A debt facility of £745 million ($997 million) was secured through four banks, which is contingent on passing "certain milestones." The UK's Universities Superannuation Scheme (USS), which reportedly has assets of around $67 billion ($90 billion), is in for almost £300 million ($402 million) in exchange for an undisclosed stake in the altnet. USS payments will be staggered over six years, also apparently in line with agreed targets. ...
Source: lightreading.com