Intrepid Fiber Networks has increased its senior secured credit facility to $425 million. This expanded facility, arranged by Societe Generale, is intended to strengthen the company’s balance sheet and support the rapid expansion of its fiber networks across the United States.
The additional liquidity will help Broomfield-based Intrepid accelerate its network deployments while also allowing for potential strategic growth opportunities.
CFO Tim Bruny noted, “By proactively upsizing the facility, we’ve fortified our balance sheet and secured flexible, attractively priced capital that allows us to draw as construction and customer milestones are achieved. This positions Intrepid to maintain its ambitious build cadence and evaluate strategic tuck-in acquisitions.”
The funding will primarily support construction in Intrepid’s core markets of Colorado and Minnesota, as well as planned future builds. The company’s network currently reaches nearly 150,000 fiber passings, with an acceleration in buildouts over the past year.
Founded in 2021 by Brookfield Asset Management, Intrepid Fiber Networks aims to provide high-quality fiber connectivity throughout the U.S., catering to the growing broadband demands of the future.