Stonepeak Will Support Cirion Amid Business Unit Splits (1)

Private equity owner Stonepeak Partners told investors it would support Cirion Technologies with equity earmarked for accretive capital projects as well as equity reserved for existing projects, according to people familiar with the matter.

• The comments were made during last week’s call with investors, said the people, who asked not to be identified discussing a private matter
• The Latin American fiber company also disclosed an operational reorganization, with plans to run its data center-focused and connectivity businesses as two separate units, they said
• Representatives with Stonepeak and Cirion declined to comment
• Its $1.3 billion first-lien loan due in 2029 was ...