CityFibre to build fibre infrastructure connecting local authorities, 50,000 businesses and one million homes
Construction of CityFibre’s metropolitan city networks will commence early 2012 to serve councils, public services, businesses and service providers
3 November 2011 – CityFibre Holdings Limited has today announced that it has appointed Macquarie Capital, a leader in infrastructure corporate finance, as advisor on its next stage of capital formation.
CityFibre received proposals from several leading investment banks and selected Macquarie Capital for its extensive international advisory experience in large-scale telecoms infrastructure, including its role as financial advisor to Telstra on Australia’s NBN project, the world’s largest Fibre-to-the-Premises deployment. Macquarie Capital will act as financial advisor to CityFibre in raising new capital to realise the company’s plans to connect one million homes and 50,000 businesses, and in doing so creating thousands of jobs.
Greg Mesch, CityFibre’s CEO commented: “I am delighted to be working with such an experienced financial institution. Macquarie’s deep knowledge of financing infrastructure projects is coupled with a strong and experienced telecoms banking team that will be a great asset to ensure we achieve our goal of accelerating fibre optic network deployment throughout the UK.
“CityFibre looks forward to engaging with local authorities and business across the country to deliver new fibre networks that can power the next generation of public services and cloud based business networks.”
Bill Kennish, Head of Telecommunications, Media Entertainment and Technology at Macquarie Capital in Europe said, “We are pleased to work with CityFibre as it seeks to further develop its fibre optic infrastructure in selected UK markets, given the substantial unmet demand for superfast broadband services. We look forward to bringing our extensive telecoms infrastructure financing experience to CityFibre as it takes the next steps in its development.”
CityFibre, already the UK’s largest provider of fibre networks in secondary towns and cities, intends to invest up to £500 million to build further metro networks and pure Fibre-to-the-Premises networks in a unique citywide deployment, providing gigabit services in towns and cities across the UK.
Mesch said: “In delivering these new fibre optic networks CityFibre will be creating thousands of new jobs in the UK’s construction and telecommunication industries which will provide a vital role in sparking Britain’s economy.”
It is the Government’s goal to have the ‘best superfast broadband networks in Europe by 2015’. The reality is that today the UK ranks only 26th in the world in the Akamai ‘State of the Internet’ report. This highlights the role CityFibre can play in supporting the Government’s plans, and in doing so, supporting economic growth in those towns and cities benefiting from this new future-proof infrastructure.
CityFibre’s networks will deliver cost savings to local government and create a new era of digital public services. Residents will benefit from true Fibre-to-the-Home capable of gigabit broadband speeds that will be deployed in conjunction with CityFibre’s service provider partners.
CityFibre will partner with leading service providers, technology vendors and construction firms to deliver its networks. Roll out will commence in early 2012. CityFibre has recently completed significant fibre optic projects in York, Ayr and Dundee.
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Notes to editors
Macquarie Capital has advised on a number of large transactions in the telecom and media sector in the last two years, including the takeover of the leading Australian metropolitan radio broadcaster, the takeover of the third largest radio operator in the United States, the acquisition of a Czech broadcast transmission company and the recapitalisation of a major Australian media group.
Macquarie Capital is the lead financial advisor to Telstra for the creation of Australia’s National Broadband Network (NBN Co), the world’s largest open access Fibre-To-The-Premises project with committed capital of $A26 billion from the Australian government to connect next generation fibre to 93% of all homes and businesses country-wide.
About CityFibre Holdings:
CityFibre (www.cityfibreholdings.com) is one of the UK’s leading fibre optic infrastructure providers. By building dedicated private networks for the public and private sectors, we empower data-hungry users throughout the country, by unleashing unlimited speeds on future-proofed technology.
Our projects comprise point-to-point connections, metro rings and Fibre-to-the-Premises networks that make possible Next Generation Access and gigabit level services direct to local authorities, businesses and homes.
CityFibre manages over 100 private fibre projects and seven separate metropolitan fibre rings under long-term contracts with local authorities, police forces, healthcare organisations and universities. With almost 30,000 Km of fibre in the ground, connecting more than 350 sites and data centres across the UK, we are the UK’s largest independent provider of fibre in secondary cities
In Bournemouth, CityFibre owns the largest FTTH project in the UK. With over 24,000 homes ready for service by 2012, the network enables service providers to deliver unprecedented superfast broadband with speeds of up to 1Gbps.
CityFibre was advised in the selection process by STJ Advisors.
The parent of Macquarie Capital, Macquarie Group Limited, is a global provider of banking, financial, advisory, investment and fund management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients, acting on behalf of institutional, corporate and retail clients around the world.
Macquarie Group Limited is listed in Australia (ASX:MQG; ADR:MQBKY) and is regulated by APRA, the Australian banking regulator. Macquarie Capital (Europe) Limited is authorised and regulated by the UK Financial Services Authority. Macquarie Capital (Europe) Limited is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia).. Macquarie's activities are also subject to scrutiny by other regulatory agencies around the world.
Founded in 1969, Macquarie employs more than 15,000 people in over 28 countries. At 30 September 2011, Macquarie had assets under management of $A324 billion.
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