• Second ABS financing enhances Fidium’s capital structure as it executes on its growth plan and vision to become America’s favourite and fastest-growing fibre service provider

The Woodlands, Texas – Fidium (the “Company”) today announced the closing of its second fiber securitization transaction (the “Transaction”) consisting of asset-backed term notes (the “Notes”) totaling approximately $1.283 billion, secured by all existing and future fiber-enabled customers across certain states and the fiber optic and network infrastructure to support these customers. The Transaction follows the successful May 2025 issuance of $1.344 billion of asset-backed term notes.

The Notes were issued in three classes consisting of $977.8 million 5.5% Series 2025-4, Class A-2 notes, $144.5 million 5.8% Series 2025-4, Class B notes, and $160.6 million 8.1% Series 2025-4, Class C notes, each with an anticipated repayment date of December 2030. Collectively, the Notes have a weighted average coupon of approximately 5.9%.

"We are pleased to build on the success of our inaugural asset backed securitization financing earlier this year through this most recent transaction, which underscores the favorable trajectory of our business and the strong, growing value of our fiber infrastructure,” commented Fred Graffam, chief financial officer at Fidium. “With an attractive, long-term capital structure in place, we are well-positioned to continue executing on our growth plan and the expansion of Fidium to communities across our service territory.”

The proceeds of the Transaction will be used to, among other things, repay certain existing indebtedness, including a portion of the outstanding revolving warehouse facility, and for general corporate purposes, including the Company’s growth initiatives and expansion of its fiber network.

Morgan Stanley & Co. LLC acted as sole structuring agent and lead left active bookrunner.

Goldman Sachs & Co. LLC, Guggenheim Securities, LLC, Jefferies LLC, J.P. Morgan, RBC Capital Markets, LLC, Santander US Capital Markets LLC, Scotia Capital (USA) Inc., UBS Investment Bank and Wells Fargo Securities, LLC acted as active bookrunners. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as counsel to Fidium and King & Spalding served as counsel to the initial purchasers in the offering.

About Fidium

Fidium is a next-generation fiber internet and network services company on a mission to be America’s favorite fiber provider. Serving people who expect more from their connectivity, Fidium delivers lightning-fast, reliable internet that’s refreshingly easy to use. With future-ready technology, a customer-first approach, and a growing national fiber footprint, Fidium is redefining what “better internet” means: fast speeds, simpler experiences, and service that’s actually helpful.

Available in more than 700 communities, Fidium connects people to the possibilities of fiber – from homes and small businesses to large enterprises, schools, hospitals and entire communities. Backed by one of the nation’s top 10 fiber networks and a commitment to continuous innovation, we’re powering work, life, learning and opportunity. Fiber Up and learn more at FidiumFiber.com.