Zayo Separates Non-N. America Assets, Gets $1b in Cash, Loan (1)

Debt-laden Zayo has put its non-North American operations into separate entities, receiving just over $1 billion in return through an intercompany loan and cash, according to people familiar with the situation.

• The fiber-network firm last month shifted its European assets into a controlled subsidiary of Zayo’s parent, Front Range Parent LP, said the people, who asked not to identified discussing a private matter
  • The details were disclosed in tandem with the release of second-quarter results that showed year-over-year earnings improvement
  • Zayo also said it has a path to address its negative adjusted free cash flow and that it’s seeing more ...