Clifford Chance advises on US$250 million financing for expansion of fiber network

Global law firm Clifford Chance has advised LiveOak Fiber (LiveOak), an InfraRed Capital Partners portfolio company, in obtaining a US$250 million capital expenditure facility to finance the expansion of fiber network in underserved communities in the southeast of the US.

LiveOak is dedicated to improving quality of life in underserved communities across Florida and Georgia with its all-fiber broadband service. Since its founding in June 2022, the company has grown into a regional network operator serving business customers and residential customers in Bay, Okaloosa, and Walton Counties, Florida, and Camden, Chatham, and Glynn Counties, Georgia. LiveOak has deployed more than US $200 million in investment to date, constructing and lighting more than 1,000 miles of fiber, and unlocking access to educational resources, telehealth services, and economic opportunities previously out of reach in these areas.

Partners Thomas Critchley and Andrew Young along with associate Heba Hazzaa led the transaction. They were assisted by associates Sam Clinton-Davis, Xiaowen Zou, Alex Custodio, Peter Guinnane and Vicki Ye. Partners Avrohom Gelber, Howard Adler and associate Joshua Thomas assisted with tax matters, and partner Darren Littlejohn and associate Isabel Hager Johnson provided derivatives advice.