UK, London, 10th October 2022: London-based ISP Community Fibre Limited has today announced that it has signed a new finance facility of £985m which will enable the company to continue to execute its rapid roll out of a full-fibre broadband network to 2.2m London homes by the end of 2024. Community Fibre already has 675,000 ready for service homes in London and the South East. The £985m is made up from £685m committed facilities with a further £300m uncommitted accordion. Community Fibre were advised by Rothschild & Co.
The secured finance facility follows Community Fibre's £400m investment announcement in 2020 where it reached a majority stake agreement with funds advised by Warburg Pincus LLC and DTCP, alongside its existing investors Amber Infrastructure and RPMI Railpen.
Community Fibre builds, operates, and owns its dedicated 100% full fibre network with the most advanced technology available to deliver fast and reliable broadband using 100% full fibre to the property (FTTP). Community Fibre is already London’s largest and fastest 100% full fibre broadband provider.
“We are delighted that lenders have seen the impact of our ever increasing network and the level of customer interest in faster, more reliable and more affordable broadband access. In a time of money worries for many families Community Fibre has been able to deliver a better service for a lower price. We will now be able to accelerate our network roll out and bring these benefits to a much larger number of customers” says Graeme Oxby, CEO of Community Fibre.
“The lenders and our shareholders share the view that Community Fibre’s momentum will further strengthen its position as the best and largest FTTH provider in London” says Olaf Swantee, Chairman of Community Fibre.
Notes to editors
About Community Fibre
Community Fibre is future-proofing London communities by delivering 100% full-fibre broadband throughout the capital city. By believing in a more inclusive future where everyone has access to better broadband,
Community Fibre offers the fastest 100% full fibre broadband in London, with up to 10,000 Mbps for businesses and up to 3,000 Mbps for consumers, at the most competitive prices on the market. Through offering more reliable and affordable 100% full fibre connections, Community Fibre empowers communities, enabling them to connect with friends and family and access crucial services online.
Community Fibre was named the UK’s best Consumer Internet Service Provider for the second year running at the Internet Service Provider Association (ISPA) Awards 2021, in addition to being recognised as the Best Ultrafast Broadband provider and awarded the Social Impact Award. It also won the Scaling Up category at the INCA Gold Awards in 2021.
Currently, Community Fibre operates in the following London boroughs: Barking and Dagenham, Barnet, Brent, Bexley, Bromley, Camden, City of London, Croydon, Ealing, Enfield, Greenwich, Hackney, Hammersmith and Fulham, Haringey, Harrow, Hillingdon, Hounslow, Islington, Kensington and Chelsea, Kingston upon Thames, Lambeth, Lewisham, Merton, Newham, Redbridge, Richmond upon Thames, Southwark, Sutton, Tower Hamlets, Waltham Forest, Wandsworth, and Westminster.