Power Sustainable Invests CAD$110m in telMAX's Fiber Optic Expansion

Power Sustainable Infrastructure Credit has closed a CAD $110M term loan investment in telMAX, a Canadian internet service provider. The financing will support telMAX's expansion of its multi-gigabit broadband network in the Greater Toronto Area. telMAX aims to become the most customer-centric and community-focused ISP in Canada. The investment will fund telMAX's near-term growth and establish it as a leading high-speed broadband provider.

Power Sustainable Infrastructure Credit (PSIC) has recently closed a CAD $110M term loan investment in telMAX, a Canadian internet service provider. The financing will support telMAX's expansion of its multi-gigabit broadband network throughout the Greater Toronto Area (GTA).

telMAX aims to become the most customer-centric and community-focused ISP in Canada. The investment will fund telMAX's near-term growth and establish it as a leading high-speed broadband provider in the region. The company has a demonstrated track record of executing on its fibre build plan via a rigorous and disciplined approach to market selection and construction.

The investment was facilitated by PSIC, a CAD 1.0B platform that has completed six transactions across North America. PSIC focuses on providing creative and highly tailored financing solutions to exceptional companies and management teams across various infrastructure sectors.

telMAX's CEO, Michael Strople, commented on the investment, stating, "This financing supports our ongoing footprint expansion and is a strong endorsement of our business strategy and customer growth trajectory. It enables us to bring Canada's fastest all-fibre internet service to more communities in the GTA."

Orrick, Herrington & Sutcliffe LLP served as New York legal counsel, and Osler, Hoskin & Harcourt LLP served as Canadian legal counsel to PSIC. Bank Street Group LLC served as exclusive financial advisor, Vinson & Elkins LLP served as New York legal counsel, and Bennet Jones LLP served as Canadian legal counsel to telMAX.

Power Sustainable, an alternative asset manager, finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets, which aim to accelerate and scale sustainable solutions across multiple industries.

telMAX, headquartered in the Greater Toronto Area, offers 100% fibre optic internet, TV, and phone services to residential and business customers. The company has been ranked Canada's fastest internet service provider by PC Magazine for the last three years. With ongoing expansion of its award-winning independent fibre network, telMAX currently serves the communities of Brooklin, Stouffville, Newmarket, Aurora, and Richmond Hill.

References:
[1] https://www.prnewswire.com/news-releases/power-sustainable-closes-cad110m-term-loan-investment-in-telmax-302451215.html