Tucows (TCX) has provided an announcement.
On August 20, 2024, Tucows Inc. secured financing through a securitized transaction involving its subsidiary Ting Fiber, LLC, issuing $79 million in secured fiber revenue notes. The notes, backed by revenue-generating fiber-network assets and customer contracts, are structured to mature in 2054 with an anticipated repayment by 2029. The proceeds from this offering will support general corporate activities, following payment of related fees and expenses. With provisions for future issuances, the notes have covenants and restrictions typical for such financial instruments, including early amortization triggers and default events.
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