VFN Holdings, a nationwide fiber infrastructure provider serving wholesale, carrier, technology, education and retail internet customers, expanded its existing credit facility to $240 million of committed capital with an accordion providing up to $310 million of total capacity. The facility was jointly arranged by Hancock Whitney Bank, UMB Bank and Texas Capital Bank, with CIBC serving as documentation agent. Vero will use this credit facility to continue its investment in fiber-to-the-home and dark fiber network solutions.
This transaction represents a material increase to its previous $100 million credit facility, and supplements equity investments made by the management team, as well as Ariet Capital, Delta-V Capital and Hamilton Lane. Additional lenders in the syndicate include Woodforest National Bank, JPMorgan Chase, Third Coast Bank, CoBank and Axiom Bank.
“Vero continues to see exceptional demand for high-capacity fiber bandwidth, from the largest hyperscalers, looking to support investments in AI infrastructure, to families and small business looking for sufficient bandwidth to live and work productively,” Greg Friedman, chief financial officer of Vero, said. “We are thrilled to partner with our new lender syndicate to accelerate organic network builds, as well as make strategic acquisitions that enhance our capabilities, customer reach and network footprint.”
Vero was represented by the law firm of Cruz-Abrams Seigel.
