The UK’s foremost independent wireless infrastructure provider has successfully raised £220 million in debt funding to expedite its 5G infrastructure investment.
Edinburgh-based Wireless Infrastructure Group (WIG) has attracted substantial investment from three global institutional investors – Met Life, Barings and Vantage – alongside UK banks Lloyds, Royal Bank of Scotland and Barclays.
The newly secured facilities, extending to 12 years, will bolster WIG’s capital expenditure, enhancing connectivity in both rural and urban sectors, as well as key transport routes across the United Kingdom.
WIG CEO Scott Coates remarked, “This new capital raise from blue chip institutions has been structured to expand with our growth and enables WIG to operate with a highly competitive cost of capital.” He further explained, “The new facilities will be targeted on fibre and small cells to enable better connectivity both inside buildings where 80 per cent of calls are made and along busy city streets. Attracting investment with a long-term horizon and neutral-host approach can play a significant role in enabling 5G across the UK.”
Recent policy initiatives outlined in the government’s Future Telecoms Infrastructure Review, including lightly licensed spectrum and other innovations, present opportunities for WIG to collaborate with mobile operator partners, thereby unlocking faster investment and improved mobile connectivity.
Over the past year, WIG has invested in a range of new infrastructure projects, from communication towers serving rural areas to high-capacity Distributed Antenna System networks in bustling urban locations, such as offices, shopping centres, and stadiums, including Liverpool’s 54,000-capacity Anfield ground. The additional funds will support further infrastructure development, focusing particularly on small cells and fibre.
WIG is also a significant investor in Midlands Future Mobility, the UK’s largest real-world testbed for connected and autonomous vehicles.
Commenting on this development, Margot James, Minister for Digital and the Creative Industries, stated, “The measures set out in our Future Telecoms Infrastructure Review will drive the large-scale commercial investment in fixed and wireless networks that is vital for the UK to remain globally competitive in a digital world. Wireless Infrastructure Group’s accelerated investment in 5G ready infrastructure will enable greater connectivity and choice for consumers.”
The £220 million funding secured by Wireless Infrastructure Group positions the company to significantly advance 5G infrastructure across the UK, enhancing connectivity and supporting future technological developments.