20th December 2024
Glide, the market leader in delivering infrastructure to difficult to serve markets, is pleased to announce the successful completion of a refinancing of its existing debt arrangements. The refinancing also included a new capex facility to support the continued growth of the business.
The five-year bank financing was oversubscribed, highlighting strong demand from the banking sector.
Evercore acted as financial adviser to Glide, Addleshaw Goddard served as legal counsel, and PwC conducted the financial, technical and commercial due diligence for the refinancing. Latham & Watkins acted as legal counsel to the banks.
Tim Pilcher, CEO of Glide, said: “This refinancing is a significant milestone for Glide as we position ourselves for future growth. The strong interest from the banking community, resulting in an oversubscribed facility, reflects their confidence in our strategy and growth plans. We appreciate the support of Evercore, Addleshaw Goddard, PwC, and our new and existing lenders, who have helped us secure terms that will enable us to continue delivering excellence for our customers.”
About Glide
Glide is the market leader in providing connectivity infrastructure to B2B customers in the multi-dwelling student, residential, and business park markets in the UK. With an extensive fibre network across the country, Glide delivers high-quality fibre connectivity and managed Wi-Fi services to a diverse range of sectors, including student housing, co-living spaces, education institutions, and business parks.
Glide is majority owned by investment funds managed by Astatine Investment Partners.
