Lumos Networks signs $1.1 billion sustainability-linked financing

By Wendy Van Sickle

Columbus, Ohio, Aug. 8 – Lumos Networks signed a $1.1 billion sustainability-linked infrastructure financing to fund its fiber roll-out plans and refinance existing debt with EQT Partners, according to a news release.

The new financing facility includes a sustainability-linked mechanism, whereby the interest rate on the loan will be linked to several targets.

The financing represents the first ever project finance style fiber-to-the-home infrastructure financing in the United States for an existing and integrated platform, and the first such sustainability-linked financing structure, according to the release.

“Today’s announcement is truly exciting and will enable Lumos to achieve our long-term fiber roll-out plans,” Brian Stading, chief executive officer of Lumos, said in the release. “We are thrilled to partner with financial institutions that share our company’s mission to build future-proof infrastructure and improve the quality of life for those in our communities.”

Lumos is a High Point, N.C.-based provider of fiber optic internet, whole-home wifi, voice and streaming services.

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