FIRSTDIGITAL TELECOM COMPLETES SENIOR DEBT FINANCING
FirstDigital Telecom , a leading fiber-based carrier in the western United States, today announced that it has raise debt financing from a group of leading investors (“the lenders”), including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.
As a result of the transaction, FirstDigital has recapitalized its balance sheet with high-quality institutional lenders and consolidated its common equity ownership under President and CEO Wesley McDougal. This follows the recent $200 million preferred equity investment by infrastructure funds managed by Apollo (NYSE: APO), as FirstDigital continues to attract blue-chip capital partners and prepares the business to scale. Having successfully executed these series of transactions, the Company is optimally positioned to execute on its ambitious growth plans.