Bluebird Network, a communications infrastructure provider and data center operator based in south St. Louis County, has secured $285 million in financing it says will aid its expansion efforts. Bluebird said it has secured $285 million of five-year senior secured credit facilities, with TD Securities serving as lead financing arranger and administrative agent of the credit facilities. Other lenders providing financing in the deal include Societe Generale Group, Regions Bank, Bank of America, Woodforest National Bank, Axiom Bank, ThirdCoast Bank SSB and Citizens. The credit facilities will be used to refinance Bluebird’s existing debt and will provide capital to help the firm expand its fiber network, the company said.
“We’re thrilled to announce the closing of this refinancing,” Michael Morey, president and CEO of Bluebird, said in a news release. “It’s a point of pride that we’re viewed by lenders as a trustworthy company to work with.”
Bluebird operates two data centers, in Springfield, Missouri, and in the Quad Cities area. It provides internet and transport services, via its more than 11,000 miles of fiber network, to carriers and enterprises in Missouri, Illinois, Kansas, Iowa and the surrounding states. Bluebird had revenue of $80.5 million in 2022, up from $66.9 in the prior year. The firm, with its office at 10024 Office Center in Sappington, has 120 employees, 23 of which are based locally.
Bluebird said in a news release its financing will be used for network upgrades and geographic expansion. Bluebird added 360 miles-plus of new fiber routes in the past year, it said, and has a goal to operate its fiber network in 80% of cities with populations of 10,000-plus in 11 Midwest states. Bluebird said its expansion efforts have been aided by a $41 million grant through the U.S. Department of Commerce’s Enabling Middle Mile Broadband Infrastructure Program, with the funding to be used for a fiber route from St. Louis to Tulsa, Oklahoma. Bluebird said the project will be constructed over the next four years.
Link to STL Business Journal Here