ZenFi Networks, a provider of digital infrastructure solutions in the New York and New Jersey metro region, 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. 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 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 Société Générale.
“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,” Ray LaChance, co-founder and CEO of ZenFi Networks, said. “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,” Margarit Ivanov, director at TD Securities, said.