Zayo Group has completed its previously announced acquisition of AboveNet. The combined company will operate in 45 states in the U.S. and 7 countries in North America and Europe. Its network spans over 61,000 route miles with 4.6 million miles of fiber. The combined network serves approximately 9,000 buildings including major data centers, telecommunications hubs, enterprise buildings and cellular towers.
Additionally Zayo has completed $3.34 billion in equity and debt financing in conjunction with the close of AboveNet and the refinancing of all existing Zayo and AboveNet debt. GTCR LLC, a leading Chicago-based private equity firm, led a $472 million round of new equity financing. Zayo also closed on $2.87 billion of new debt in the form of a term loan and senior secured and unsecured notes, plus a $250 million revolving credit facility which is undrawn.
Since announcing the acquisition on March 19th, Zayo and AboveNet staff have been working together to develop a comprehensive integration plan. The plan encompasses physical network integration, organization plans, and a single set of processes and IT systems. The network interconnection work has been initiated and is expected to be mostly complete in three months.
For more information on Zayo, visit www.zayo.com.
