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POWER SUSTAINABLE CLOSES CAD $85M TERM LOAN INVESTMENT IN CANADIAN FIBER OPTICS CORPORATION ("CFOC")
POWER SUSTAINABLE CLOSES CAD $85M TERM LOAN INVESTMENT IN CANADIAN FIBER OPTICS CORPORATION ("CFO...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n POWER SUSTAINABLE CLOSES CAD $85M TERM LOAN INVESTMENT IN CANADIAN FIBER OPTICS CORPORATION (\"CFOC\")\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CFOC aims to provide rural and remote communities with reliable and fast fiber optic internet\n \n\n\n\n\n MIAMI, FLA\n \n ,\n \n\n Jan. 14, 2025\n \n\n /CNW/ - Power Sustainable Infrastructure Credit (\"PSIC\") recently closed on a CAD\n \n $85M\n \n financing for Canadian Fiber Optics Corporation (\"CFOC\"), a fiber optics company based in\n \n Calgary\n \n , to support the build-out of broadband internet in rural\n \n Western Canada\n \n .\n \n\n CFOC designs, builds, and operates fiber optic networks to provide high speed internet services to residential, commercial and enterprise customers in rural or remote communities. Since 2017, CFOC has built 1,000km of fiber, passing 16k+ premises with over\n \n 4k\n \n subscribers as of\n \n December 31, 2024\n \n . CFOC's current ownership group includes funds managed by Tikehau Star Infra and the Bloomer Family Office.\n \n\n CFOC intends to utilize the financing provided by Power Sustainable to contribute towards improved rural connectivity for communities that often lack basic internet. According to a report\n \n 1\n \n by the Alberta Government, 67% of rural Albertans and 80% of Indigenous Communities have unreliable access to high-speed internet at federal target speeds. Addressing this gap has been frequently cited as a key lever to support economic growth and productivity.\n \n\n\n Tom Murray\n \n , Managing Partner of Power Sustainable Infrastructure Credit, said: \"We are thrilled to be partnering with CFOC as it executes on a robust pipeline of growth opportunities throughout\n \n Western Canada\n \n . The ...