Brightspeed及其债权人正就一项数十亿美元的资金生命线展开谈判，因为这家宽带服务提供商在推进资本密集型光纤互联网部署的过程中，正面临沉重的债务负担。
Brightspeed and its creditors are locked in talks for a multibillion-dollar funding lifeline as the broadband provider grapples with a heavy debt burden amid its capital intensive fiber internet rollout.
据知情人士透露，这家由Apollo Global Management Inc.（阿波罗全球管理公司）支持的企业可能需要20亿至30亿美元的新增资本。知情人士称，新资金的细节仍在敲定中，包括金额以及是否会通过法院程序进行，他们因讨论私人信息而要求不具名。Brightspeed和Apollo的代表均拒绝置评。
The Apollo Global Management Inc.-backed firm may need anywhere from $2 billion to $3 billion of fresh capital, according to people familiar with the matter. The new money is still being ironed out, including the amount and whether it will be part of a court process or not, the people said, asking not to be identified discussing private information. Representatives for Brightspeed and Apollo declined to comment.
彭博此前报道，Brightspeed一直在寻求融资——包括资产支持证券化——以补充现金流，旨在应对公司高达100亿美元的债务堆积。该公司最近曾就其持续经营能力发出警示，且其几乎所有证券均在接近违约的水平交易。
Brightspeed has been seeking financing — including an asset-based securitization — to shore up cash as it looks to address the company’s $10 billion debt pile, Bloomberg previously reported. The firm recently warned about its ability to continue as a going concern, and nearly all of its securities trade around distressed levels.
根据彭博汇编的数据，其约26亿美元的延期提取定期贷款周五报价约为面值的66.25美分，而其约25亿美元的实物付息贷款报价约为面值的17.25美分。这两笔贷款均于2031年到期。
Its roughly $2.6 billion delayed draw term loan was quoted at around 66.25 cents on the dollar on Friday while its approximately $2.5 billion loan that pays interest in-kind is quoted at about 17.25 cents, according to data compiled by Bloomberg. Both are due in 2031.
Brightspeed于2022年开始运营，正在进行一项数十亿美元的项目，旨在为20个州以农村和郊区社区为主的地区带来光纤互联网。
Brightspeed, which started operations in 2022, is engaged in a multibillion-dollar endeavor to bring fiber internet to mostly rural and suburban communities in 20 states.
但该项目使公司背负了沉重的债务负担，导致“极高的财务杠杆、持续的经营压力，以及与其资本密集型转型战略相关的执行风险”，穆迪评级在8月的一份报告中指出。
But the project has left the company with a heavy debt load, resulting in “very high financial leverage, ongoing operating pressures, and execution risks tied to its capital-intensive transformation strategy,” Moody’s Ratings said in an August report.
尽管如此，光纤销售额同比增长了16%，且该公司在4月宣布其光纤覆盖地点已超过300万。
Still, fiber sales have climbed 16% year-over-year, and the company in April announced it had surpassed 3 million fiber-enabled locations.
本月初，该公司任命肖恩·奥唐奈为新任首席执行官。奥唐奈此前曾担任富凯咨询高级董事总经理，并曾在Arbinet和Innovative Companies担任首席执行官。
Earlier this month, the company named Shawn O’Donnell as its new chief executive officer. O’Donnell was previously a senior managing director at FTI Consulting and was also CEO at both Arbinet and Innovative Companies.
Brightspeed于2024年不得不进行债务置换，与债方达成协议，将其借款削减11亿美元，并获得37亿美元新资本。自那以后，它通过增量融资为其宽带建设提供资金。
Brightspeed had to execute a debt exchange in 2024, reaching a deal with lenders to slash $1.1 billion from its borrowings and get $3.7 billion of new capital. Since then, it’s tapped incremental capital raises to fund its broadband buildout.
据知情人士透露，2024年的重组在担保债务中设立了不同的偿付层级，阿波罗持有所谓的“第三顺位”份额。同时，Arini Capital Management持有第二顺位分层的一部分，知情人士称。Arini的代表未立即回复置评请求。
The 2024 restructuring created different repayment tiers in the secured debt, with Apollo owning a so-called third-out piece, according to the people. Meanwhile, Arini Capital Management owns a portion of the second-out tranche, the people said. A representative for Arini didn’t immediately respond to a request for comment.