Surf Internet closes $407M fiber asset-backed securitization to expand Great Lakes network

Surf Internet, through its newly formed subsidiary Surf ABS Issuer LLC, finalized a $407 million fiber asset-backed securitization (ABS) to fund the expansion of its fiber network across the Great Lakes region. The ABS comprises a $332 million offering of secured fiber network revenue term notes and a $75 million variable funding note facility, enhancing Surf's financial flexibility and supporting long-term value creation.

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Surf ABS Issuer LLC

company

Surf ABS Issuer LLC is a special purpose vehicle established by Sunrun Inc. to issue asset-backed securities collateralized by residential solar loans and leases, facilitating financing for distributed solar energy projects across the United States.

Surf Internet

company

Surf Internet is a telecommunications company specializing in the development, construction, and operation of fiber optic internet networks. Headquartered in Merrillville, Indiana, the company focuses on bringing high-speed broadband services to underserved residential and business communities across the Midwest United States.