National Wealth Fund backs CityFibre in new funding round

The National Wealth Fund has committed to CityFibre’s latest funding round, expanding its existing debt facility alongside other lenders to support their rollout of full fibre broadband in some of the hardest to reach areas of the UK.

 

The debt facility is part of CityFibre’s £2.3bn financing round which also includes £500m in new equity to help the business continue its network investment to connect hundreds of thousands of new customers nationwide.

 

Digital and technology is one of NWF’s priority sectors, with a particular focus on providing finance for altnets like CityFibre who are delivering BDUK contracts under the government's Project Gigabit - enabling hard-to-reach communities to access reliable broadband connections. CityFibre’s investment marks a significant moment in upgrading the UK’s digital infrastructure to help provide the digital foundations for the UK’s economic growth for decades to come.

 

The NWF’s original debt facility was announced in June 2022.

 

Read more on CityFibre’s funding round: CityFibre agrees £2.3bn in new financing round, in major… | CityFibre