Gateway Fiber, a fiber internet provider, closed an incremental $75 million in debt financing. The company will use the capital raise to fund continued expansion of Gateway’s fiber network through 2025 in three key markets: Missouri, Minnesota and Massachusetts.
Gateway has raised a total of $250 million of debt financing this year, with Texas Capital acting as the administrative agent and Texas Capital Securities as lead arranger alongside three joint lead arrangers: JPMorgan Chase Bank, Third Coast Bank and CIBC. Gateway also has the ongoing support of its equity sponsor, CBRE Investment Management.
“We appreciate the tremendous support of Texas Capital, our lenders, and CBRE IM,” Betsy Toney, chief financial officer of Gateway Fiber, said. “With a strong balance sheet and great capital partners, we are confident in our ability to further grow our platform in 2025 and take advantage of opportunities in the residential and commercial fiber internet markets. As we expand, we will continue to invest in our capabilities to maintain outstanding quality of service for our customers.”
