$425 Million Debt Facility, Expandable to $585M, Funds Continued Fiber Network Expansion, Fiber-to-the-Premise Market Growth and Complementary Acquisitions
BOULDER, Colo., April 6, 2026 /PRNewswire/ -- VFN Holdings, Inc. (Vero), a nationwide fiber infrastructure provider serving wholesale, technology, enterprise and retail internet customers, today announced the successful expansion of its existing credit facility to $425 million of committed capital. The facility includes an accordion feature providing up to $585 million of total capacity and was jointly arranged by Hancock Whitney Bank, Texas Capital and J.P. Morgan. Vero was able to complete this facility expansion exclusively with increased commitments from existing participants in the syndicate, illustrating the confidence and conviction of current lenders in Vero's business model and performance record.
Vero will utilize this credit facility to continue its investment in fiber-to-the-premise (FTTP) and dark fiber network solutions, as well as to support the previously announced acquisition of Telephone Electronics Corporation (TEC). The expanded facility ensures sufficient capital for critical market expansions as Vero advances its mission to deliver digital communications and connectivity services to underserved markets throughout the United States.
Since its inception, Vero has expanded its network footprint to 334 markets across 25 states. This transaction represents a material expansion from its previous $310 million credit facility and comes on the heels of the recently closed non-control $500M equity investment made by Hamilton Lane (NASDAQ:HLNE), Delta-V Capital, and Braemont Capital.
"This expanded facility reflects the confidence our lending partners have in Vero's business model and growth trajectory," said Felipe Penna, Executive Vice President of Finance at Vero. "With robust demand for wholesale fiber accelerating alongside new FTTP market opportunities, we are well-positioned to continue deploying capital into high-returning network builds and complementary acquisitions."
"We appreciate the opportunity to serve as lead on this important capital raise and are impressed by the lending group's strong support of Vero. We look forward to a partnership that allows Hancock Whitney to continue supporting Vero's investments in quality digital communications and connectivity for communities across the country with the greatest needs for these resources and services," said Hancock Whitney Head of Specialty Lending Jeremy Jones.
Vero's expanding network deployments support the growing demand driven by artificial intelligence, cloud computing, 5G and high-definition streaming applications. Vero has grown through a combination of organic sales to education, enterprise and wholesale customers, strategic expansion of its retail FTTH footprint and accretive acquisitions of assets and teams that align with Vero's purpose and business values. Vero also self-performs a significant portion of its network construction through in-house fiber construction capabilities.
Vero was represented by the law firm of Cruz-Abrams Seigel LLC.
About Vero:
Founded in 2017 and based in Boulder, Colorado, Vero Networks designs, builds, owns and operates fiber infrastructure that serves retail consumers (FTTH), K-12 schools (E-Rate), government entities, enterprises, wireless and wireline carriers and hyperscale/cloud providers across the United States. Vero's key services include dark fiber, wide area networks, internet access, lit fiber and private fiber networks, delivered through a portfolio of operating brands that leverage a shared fiber backbone and construction capabilities. For more information, please visit www.veronetworks.com.
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SOURCE Vero Fiber Networks