The Senior Secured Credit Facility will be used to support the company’s continued growth initiatives
NEW YORK, May 23, 2022--(BUSINESS WIRE)--ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.
The transaction enables ZenFi Networks to further expand its unique digital infrastructure network across the region, including support of its partnership with CityBridge, which operates one of the world’s largest public Wi-Fi networks, LinkNYC. Recently announced, ZenFi Networks is deploying, operating, and expanding reliable 5G network connectivity and free public Wi-Fi, utilizing LinkNYC smart public communications structures across New York City.
Bank Street Group LLC served as the exclusive financial advisor and placement agent for ZenFi Networks in connection with this transaction. The new credit facility was led by TD Securities, Regions Securities and Societe Generale.
"ZenFi is a pure play digital infrastructure platform serving the New York and New Jersey metro region. We are exclusively focused on solving the unique network challenges associated with mobile densification," ZenFi Networks Co-Founder and CEO Ray LaChance says. "We are thrilled with the outcome of this new credit financing vehicle and are excited to partner with our syndicate lenders to continue the expansion of our differentiated network platform."
"We are very excited to support the entire team at ZenFi Networks on this important financing for the Company as they continue to execute on their exciting business plan," said TD Securities Director Margarit Ivanov.
For more information about ZenFi Networks, visit www.zenfi.com.
About ZenFi Networks:
ZenFi Networks, an innovative digital infrastructure company that delivers wireless siting, offload and roaming, network edge colocation and fiber optic network solutions in the NY-NJ metro region, is creating a platform to allow different providers the opportunity to expand 5G. ZenFi Networks has an unparalleled reputation for efficiently architecting and delivering solutions that enable not only Mobile Network Operators, Wholesale Telecommunications Providers, large enterprises but also the communities that need to be connected. With its purpose-built C-RAN infrastructure, ZenFi Networks is at the forefront of network architecture innovation and a critical part of the digital ecosystem in one of the biggest, most important markets in the world. For more information, please visit: www.zenfi.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220523005105/en/
iMiller Public Relations