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Managed ISP ASK4, which is headquartered in the UK and delivers gigabit-capable broadband to students and residents (renters) in multi-tenant buildings across the UK (as well as parts of Europe), has announced the completion of a £170 million refinancing project with new capital expenditure facility to help “accelerate growth“.
The transaction, which is said to be backed by a syndicate of leading lenders who recognise that in-building connectivity is “critical digital infrastructure”, covers existing debt facilities on improved terms and provides a new capital expenditure facility to support continued expansion across the UK and Europe.
The deal reduces ASK4’s interest costs and strengthens free cash flow, while the new capex facility will also be used to continue improving services for the residents and building operators ASK4 serves, as well as on expansion.