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The Yorkshire and Lincolnshire-based altnet says the investment will allow them to expand their full fibre network to a further 190,000 homes and businesses
Today, the UK Infrastructure Bank (UKIB) has announced a £250 million debt package for full fibre network provider Quickline Communications.
The funding, which takes the form of a £125 million term loan, a £100 million debt guarantee, and a £25 million term loan provided by NatWest, will reportedly allow Quickline to expand its network to 190,000 additional locations.
“This financial backing marks a significant endorsement of Quickline’s robust business model, our mission to connect the unconnected and to help regenerate our northern rural communities. Furthermore, it demonstrates UKIB’s confidence in our strategic vision and operational capabilities. It also reflects a broader investor interest in tackling the digital divide that exists today and supporting sustainable and impactful business initiatives,” said Sean Royce, CEO at Quickline.
“This partnership will support our deployment of vital connectivity infrastructure, bringing essential digital services to even more rural communities in dire need of improved broadband and kickstart economic growth across rural Yorkshire and Lincolnshire.”
Quickline has already won four Project Gigabit contracts from the UK government, which combined will see it cover 170,000 homes and businesses with full fibre.
The altnet is currently aiming to expand its network to 500,000 premises across Yorkshire and Lincolnshire by 2025.
This investment marks the latest in a string of altnet investments from the UKIB over the past month, having also committed £35 million to Cornish altnet Wildanet and £150 million to Hyperoptic.
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