Fibrus Secures New GBP 100 Million to Complete Rural Broadband Roll-Out

With new funding, Fibrus aims to reach half a million homes over the next two years.

Highlights

  • The company’s total debt and equity funding now stands at GBP 845 million.
  • Fibrus has already connected 315,000 homes in Northern Ireland and 60,000 homes in Cumbria.
  • Plans to expand broadband to nearly 170,000 homes in Cumbria within two years.

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Fibrus Secures New EUR 100 Million to Complete Rural Broadband Roll-Out
Fibrus, a Belfast-based fibre broadband provider, has secured an additional GBP 100 million tranche of senior debt, ensuring full funding for its rural roll-out plans across Northern Ireland and Cumbria. This is an increase to an existing GBP 200 million senior debt facility and GBP 20 million revolving credit facility. With this new financing, the company's total debt and equity funding has increased to GBP 845 million, enabling it to reach half a million homes over the next two years, Fibrus said.

Also Read: Fibrus Connects Over 74,000 Premises With Full-Fibre Broadband in Northern Ireland




Progress in Northern Ireland and Cumbria

The debt facility, supported by lenders including UKIB, ING, LBBW, ABN Amro, NatWest, and Sabadell, complements existing equity funding and government support.

Fibrus stated that it has already connected 315,000 homes in Northern Ireland, with 245,000 connected through a commercially funded build programme and 70,000 via the government-funded Project Stratum.

In Cumbria, Fibrus has brought broadband to over 60,000 homes, with plans to expand to nearly 170,000 homes within two years. The company noted the rapid adoption of Fibrus services, particularly in Cumbria, where the penetration rate exceeded 30 percent shortly after launch.

Also Read: Nexfibre to Connect 15,000 Premises in High Wycombe and Marlow

Fibrus's Infrastructure Growth

Fibrus reported that it has quickly become a leading fibre provider in its service areas, achieving a penetration rate of 23 percent with 90,000 connected customers as of July. Fibrus has laid over 17,000 kilometres of fibre to connect homes across Northern Ireland and Cumbria.

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Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

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