Lumos Fiber, which is expanding NC network, lands $1.1B in new financing

HIGH POINT – Lumos Fiber, the Triad-based operator of fiber optic networks which is steadily expanding its footprint across North Carolina. has secured $1.1 billion in new funding for more growth as well as to refinance existing debt.

The company secured the investment from EQT, a firm with international reach and with some $130 billion in assets under management.

Lumos notes that the funding is linked to sustainability initiatives, pointing out the “interest rate on the loan will be linked to several targets in line with Lumos and EQT’s overall mission.”

“Today’s announcement is truly exciting and will enable Lumos to achieve our long-term fiber roll-out plans,” said Brian Stading, CEO of Lumos, in a statement. “We are thrilled to partner with financial institutions that share our company’s mission to build future-proof infrastructure and improve the quality of life for those in our communities.”

Last month, Lumos announced service for Burlington.