Wave Raises an Additional $130 Million for Gigabit Ethernet Fiber Network

KIRKLAND, WA — Wave, a gigabit fiber and broadband services company, announced that it has raised an additional $130 million to further expand its gigabit Ethernet fiber network (serving areas from northern California to the Canadian border through key West Coast markets in Oregon and Washington) and various business services such as co-location facilities and voice solutions. Wave’s financing for this expansion consists of a corporate bond sale worth approximately $130 million, led by Deutsche Bank and supported by Wells Fargo, Sun Trust, and RBC Daniels.

Wave’s network provides commercial-grade speed and reliability for business and residential customers. The planned expansion includes entry to new markets, increased capacity and redundancy in existing markets, as well as infrastructure development to support additional future growth.

Wave’s expansion includes:

• Growing its gig-E network into areas surrounding Seattle, Portland and San Francisco with the addition of more than 1,500 route miles of fiber in 2015;


• Completing multiple redundant fiber rings between California markets including Concord, San Jose, Sacramento, and San Francisco with virtual cross-connect services to multiple Bay Area data centers;


• Expanding residential gigabit internet service to an additional 10,000-plus residents this year in Seattle with expansion to San Francisco and other markets in 2015 and beyond;


• Introducing new business services such as Hosted PBX and co-location facilities to its existing IP Transport, and virtual cross-connect products;


• Growing the company’s construction organization to support additional network expansion in West Coast California, Oregon and Washington markets, with hundreds of fiber build projects currently being planned, permitted and under construction.