Brightspeed to Seek As Much As $2.25 Billion in Fresh Funding

Brightspeed, a telecommunications firm owned by Apollo Global Management Inc., plans to seek additional funding from investors to expand its fiber optic network, according to people familiar with the matter, months after the company restructured its debt load with a group of banks.

In total, Brightspeed may seek another $1.25 billion to $2.25 billion in fresh financing beyond its existing debt, said the people, who were not authorized to speak publicly. As much as $575 million of that would come in the form of a private placement, they said, while other portions may come from the fiber securitization ...