Intrepid Fiber Networks raises $290M in debt financing to expand in Colorado, Minnesota

BROOMFIELD — Broomfield-based fiber provider Intrepid Fiber Networks recently raised $290 million in debt financing to support a major expansion of its fiber-to-the-premises network in Colorado and Minnesota.

“Securing this new credit facility accelerates our growth across the entire build plan. We have already achieved tremendous success constructing our networks and onboarding subscribers through our partners,” Intrepid CEO Jack Waters said in a prepared statement. “This exciting step forward reinforces our commitment to delivering future-proof fiber networks that provide symmetrical gigabit speed to meet our end users’ broadband needs, while providing customers more options in choosing their preferred internet service provider.”

Intrepid said in May that it will expand its network to include Broomfield, Columbine Valley, Firestone, Frederick, Fort Lupton, Dacono, Dakota Ridge and Superior in Colorado; as well as Shoreview, Arden Hills, Mounds View, New Brighton, Woodbury, Oakdale, Cottage Grove and Maplewood in Minnesota.

Those communities are near current Intrepid deployments, representing an organic expansion of its network, the company said.

Founded in 2021, Intrepid Fiber is owned by Canadian investment giant Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM).