Alaska Communications has secured a new five-year $390 million senior secured credit facility to enhance its state fiber infrastructure and repay existing debt.
Matt McConnell, CEO of Alaska Communications, said, “This new facility enhances our ability to meet the growing demands of our market.”
Fiber is a big focus for ACS.
The service provider is developing a network that spans 9,100 miles of fiber, connecting business and wholesale customers throughout the state. It also plans to extend its critical infrastructure further to enhance connectivity in Alaska.
Today, ACS’ fiber broadband service is available in select neighborhoods in Anchorage, Soldotna and Fairbanks.
Rothschild & Co. served as Alaska Communications' financial advisor. Bank of America and Fifth Third Bank acted as Joint Bookrunners and Joint Lead Arrangers.
Serving the unserved
Besides building its fiber network, ACS is also participating in the Alaska FiberOptic Project, a collaboration with Alaska Native Regional Corporations and tribal entities that support communities along the Yukon and Kuskokwim Rivers.
Alaska Communications’ partners have received more than $100 million so far to build fiber-based broadband in 15 communities along the Yukon and Kuskokwim Rivers.
The project will bring high-speed fiber internet to up to 21 communities for the first time, creating new economic opportunities for rural residents.
Fiber construction in the Yukon River began this summer.
Ramping the workforce
As Alaska Communications looks to extend fiber networks itself and work with other providers like Matanuska Telecom Association (MTA), the company realizes that it needs to reinvigorate the telecom workforce to support new roll outs and network maintenance.
Earlier this year, MTA and Alaska Communications created a new pact to address the need for telecom workers in Alaska to fulfill the growing need for broadband connectivity.
The partnership supports NECA/IBEW’s Alaska Joint Electrical Apprenticeship and Training Trust (AJEATT).
Commonly called an electrical apprenticeship school, the trust provides hands-on classroom and on-the-job training for various electrical jobs, including telecommunications.
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