Alaska Communications, a provider of mission-critical and life-critical communications infrastructure in Alaska, announced a major financial advancement with the establishment of a new five-year $390 million senior secured credit facility. The funds will be used to repay existing debt and to further invest in expanding the company’s fiber infrastructure across the state. Bank of America and Fifth Third Bank acted as Joint Bookrunners and Joint Lead Arrangers.

“This new financing represents a significant opportunity to enhance our fiber infrastructure in Alaska,” said Matt McConnell, CEO of Alaska Communications. “We are dedicated to contributing to a stronger state economy for Alaskans now and for years to come by enhancing connectivity with increased fiber capacity. The potential to expand fiber-based connectivity is immense, and this new facility enhances our ability to meet the growing demands of our market.”

Alaska Communications is currently developing a network that spans 9,100 miles of fiber, connecting business and wholesale customers throughout the state. The company has plans to further extend its critical infrastructure to enhance connectivity in Alaska.

Rothschild & Co served as the financial advisor to Alaska Communications.