Alaska Communications, the provider of mission-critical communications in Alaska, has secured a five-year, $390 million senior credit facility to enhance its fiber infrastructure, boost connectivity in rural communities, address workforce needs, and repay existing debt.
This new financing represents a pivotal moment for Alaska Communications as it expands its 9,100-mile fiber network, which serves business and wholesale customers throughout the state. With plans to extend its critical infrastructure, the company aims to enhance connectivity for Alaskans.
Rothschild & Co. served as Alaska Communications’ financial advisor. At the same time, Bank of America and Fifth Third Bank acted as Joint Bookrunners and Joint Lead Arrangers for the credit facility.
Alaska Communication Expanding Fiber Infrastructure
Alaska Communications is actively developing a robust fiber network to increase connectivity for urban and rural areas. Its fiber broadband service is available in select neighborhoods in Anchorage, Soldotna, and Fairbanks. The company’s long-term goal is to expand this service to more communities, improving access to high-speed internet across Alaska.
In addition to its network expansion, Alaska Communications is participating in the Alaska FiberOptic Project. This collaboration, involving Alaska Native Regional Corporations and tribal entities, focuses on bringing high-speed fiber internet to underserved communities along the Yukon and Kuskokwim Rivers.
So far, the project has secured over $100 million in funding to build fiber-based broadband in 15 communities, with plans to reach up to 21 communities. Fiber construction along the Yukon River began this summer, paving the way for new economic opportunities in these rural areas.
Addressing Workforce Needs
As the demand for broadband connectivity grows, Alaska Communications recognizes the importance of having a skilled telecom workforce. The company has partnered with Matanuska Telecom Association (MTA) to address this and support the NECA/IBEW’s Alaska Joint Electrical Apprenticeship and Training Trust (AJEATT).
This partnership aims to reinvigorate the telecom workforce by providing hands-on training for various electrical and telecommunications jobs. This ensures that Alaska’s growing network infrastructure can be effectively maintained and expanded.
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