WRIGHT CITY, Mo. — December 2, 2024 — (BUSINESS WIRE) — Gateway Fiber, a leading fiber internet provider, is pleased to announce the closing of an incremental $75 million in debt financing. Proceeds from the capital raise will fund continued expansion of Gateway’s fiber network through 2025 in three key markets – Missouri, Minnesota, and Massachusetts.
Gateway has raised a total of $250 million of debt financing this year with Texas Capital acting as the Administrative Agent and Texas Capital Securities as Lead Arranger alongside three joint lead arrangers: JPMorgan Chase Bank, Third Coast Bank, and CIBC. The combination of the expanded credit facility and the ongoing support of Gateway’s equity sponsor, CBRE Investment Management, provides Gateway ample capital to pursue growth.
“We appreciate the tremendous support of Texas Capital, our lenders, and CBRE IM,” said Gateway Fiber CFO Betsy Toney. “With a strong balance sheet and great capital partners, we are confident in our ability to further grow our platform in 2025 and take advantage of opportunities in the residential and commercial fiber internet markets. As we expand, we will continue to invest in our capabilities to maintain outstanding quality of service for our customers.”
