UK’s CityFibre Secures £2.3bn Financing for Full-Fibre Growth

CityFibre, the UK’s largest independent full fibre platform, has finalized a significant £2.3bn financing round. The funding comprises £500m in fresh equity from CityFibre shareholders and key infrastructure players emphasising their long-term commitment. Additionally, a committed £960m expansion of debt facilities has been agreed to support further network investments and customer connections. An £800m accordion facility aims at enhancing CityFibre’s expansion through acquiring full fibre network assets, solidifying its position as a sector consolidator. This funding represents a milestone in upgrading the UK’s digital infrastructure, ensuring long-term economic growth and providing top-notch services to businesses and consumers. Chancellor of the Exchequer, Rachel Reeves, and Secretary of State for Technology, Peter Kyle, laud the investment as pivotal for the UK’s technological advancement and economic development.