Thursday, November 15, 2007

Zayo Bandwidth Gets $85M In Debt

Louisville, Colorado-based Zayo Bandwidth announced Thursday that it has secured $85M in a debt facility. The funding came from CIT Group, CoBank, and Hercules Technology Growth Capital. Zayo said the funding would be used to supports its overall growth strategy, and acquisition of fiber-based communications businesses. The debt comes in addition to $225M in equity the firm raised earlier this year. That earlier funding came from Columbia Capital, M/C Venture Partners, Oak Investment Partners, Battery Ventures and Centennial Ventures.