{"id":32513,"date":"2022-10-10T17:17:07","date_gmt":"2022-10-10T16:17:07","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=32513"},"modified":"2022-10-10T17:23:32","modified_gmt":"2022-10-10T16:23:32","slug":"community-fibre-in-huge-985m-funding-boost-for-uk-fibre-rollout","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2022\/10\/community-fibre-in-huge-985m-funding-boost-for-uk-fibre-rollout.html","title":{"rendered":"Community Fibre in Huge \u00a3985m Funding Boost for UK Fibre Rollout"},"content":{"rendered":"<p>London focused UK ISP <a class=\"shortlink shortlink-151\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/communityfibre\" target=\"_blank\" rel=\"nofollow\" title=\"communityfibre\">CommunityFibre<\/a>, which has so far covered 675,000 premises in the city and South East with their Fibre-to-the-Premises (<a class=\"shortlink shortlink-110 shortlink-chref\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\" target=\"_blank\" rel=\"\" title=\"fttp\" data-chref=\"https:\/\/www.ispreview.co.uk\/broadband_fibre_optic.php\">FTTP<\/a>) broadband network, has this afternoon announced that they&#8217;ve signed a new finance facility of \u00a3985m that will enable the company to execute the next phase of their rollout.<!--more--><\/p>\n<p>At present the operator, which also owns ISP <a href=\"https:\/\/www.boxbroadband.co.uk\/\" target=\"_blank\" rel=\"noopener\">Box Broadband<\/a> &#8211; a full fibre network covering parts of Surrey and West Sussex in England (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2021\/08\/communityfibre-expands-uk-reach-with-box-broadband-gobble.html\">here<\/a>), is aiming to reach 2.2 million UK premises by 2024 &#8211; that&#8217;s more than half of all the homes in London (3.7 million). We should add that Box Broadband alone also holds a &#8220;<em>goal of delivering fibre to in excess of 250,000 homes by the end of 2024<\/em>.&#8221;<\/p>\n<div class=\"bq2\"><strong>NOTE:<\/strong> CF was originally backed by \u00a390m from private investors and Government schemes (e.g. Amber Infrastructure and RPMI Railpen), followed later by \u00a3400m via Warburg Pincus and DTCP, and \u00a3100m from a syndicate of existing and new banks.<\/div>\n<p>However, in order to achieve their targets, they&#8217;d still need more investment, which is where today&#8217;s new finance facility of \u00a3985m should come in handy. The funding is made up of \u00a3685m in committed facilities, with a further \u00a3300m uncommitted accordion. <a class=\"shortlink shortlink-151\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/communityfibre\" target=\"_blank\" rel=\"nofollow\" title=\"communityfibre\">CommunityFibre<\/a> were advised on the deal by Rothschild &amp; Co.<\/p>\n<blockquote class=\"bq1\"><p><strong>Graeme Oxby, CEO of Community Fibre, said:<\/strong><\/p>\n<p>&#8220;We are delighted that lenders have seen the impact of our ever increasing network and the level of customer interest in faster, more reliable and more affordable broadband access. In a time of money worries for many families, Community Fibre has been able to deliver a better service for a lower price. We will now be able to accelerate our network roll out and bring these benefits to a much larger number of customers.&#8221;<\/p><\/blockquote>\n<p>Customers typically pay from \u00a320 per month on a 24-month term (\u00a322 post-contract) for their unlimited 50Mbps (symmetric speed) package with free setup and a free router, which rises to \u00a325 per month (\u00a327 post-contract) for their top 920Mbps service. The operator also offers a <a class=\"shortlink shortlink-200 shortlink shortlink-200 shortlink shortlink-200\" title=\"Community Fibre Essential 35Mbps\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/communityfibre10mbps\" target=\"_blank\" rel=\"nofollow\">super-cheap 10Mbps<\/a> tier for just \u00a312.50 per month, which is aimed at those who may struggle to afford the main plans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>London focused UK ISP CommunityFibre, which has so far covered 675,000 premises in the city and South East with their Fibre-to-the-Premises (FTTP) broadband network, has this afternoon announced that they&#8217;ve signed a new finance facility of \u00a3985m that will enable the company to execute the next phase of their rollout.<\/p>\n","protected":false},"author":1,"featured_media":29906,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[1491,56],"class_list":["post-32513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-community-fibre","tag-fttp"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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