Bluebird Network, a leading communications infrastructure provider, has successfully secured $285 million in five-year Senior Secured Credit Facilities – with TD Securities acting as Administrative Agent and Lead Left Arranger on its financing. This substantial investment will play a pivotal role in refinancing existing indebtedness, supporting ongoing capital expenditures, and facilitating the realization of ambitious development plans.
Driving Forces in Digital Infrastructure
Amidst a landscape filled with high-interest rates and stringent lending practices, Bluebird Network’s ability to secure such a substantial credit facility stands as a testament to the confidence financial institutions place in the company’s business model and its capacity to execute strategic plans.
As the world witnesses a surge in digital infrastructure needs and anticipates an exponential rise in bandwidth demand driven by Artificial Intelligence (AI), Bluebird Network is well-positioned to capitalize on these trends. Allied Market Research projects the value of the global AI infrastructure market to reach a staggering $309.4 billion by 2031.
Michael Morey, President and CEO of Bluebird Network, expresses pride in the company’s reputation as a trustworthy partner for lenders. Over the past year, Bluebird has expanded its footprint significantly, adding more than 360 new route miles of fiber and entering new markets in Missouri, Illinois, and Iowa.
Future-Ready Initiatives
Bluebird’s strategic vision involves establishing a fiber presence in 80 percent of cities with a population of 10,000 or more across its expansive 11-state Midwest footprint. The recent financing provides the necessary capital to realize this vision, supporting network upgrades, market expansion, and the execution of an awarded Middle Mile grant build.
Looking ahead to 2024, Bluebird is set to embark on additional long-haul fiber routes, demonstrating a commitment to staying at the forefront of the evolving digital landscape. Notably, the company has completed an underground river crossing in St. Louis, enhancing network resilience and adding a new, diverse route to its offerings.
Bluebird Network’s forward-thinking approach is exemplified by its participation in the U.S. Department of Commerce’s Enabling Middle Mile Broadband Infrastructure Program. The grant received in 2023 will be instrumental in building a high-value route connecting St. Louis and Tulsa, aligning with broader national efforts to enhance broadband infrastructure.
CEO’s Perspective
Michael Morey emphasizes that the upsized credit facilities position Bluebird Network to achieve its goals for 2024 and beyond. This includes further expansion of the fiber network and seizing strategic opportunities as they arise in a dynamic and rapidly evolving market.
Bluebird Network’s successful refinancing and the securing of significant credit facilities underscore the company’s dedication to innovation and growth in the digital infrastructure space. As the world becomes increasingly reliant on robust communication networks, Bluebird is well-positioned to lead the way, contributing to the advancement of digital connectivity in the Midwest and beyond.
For more information about Bluebird Network and its initiatives, visit https://bluebirdnetwork.com.
