(Adds details, background)
July 2 Fiber network company Zayo Group Holdings
Inc filed with U.S. regulators on Wednesday to raise up to $100
million in an initial public offering.
The Boulder, Colorado-based company listed Morgan Stanley,
Barclays and Goldman Sachs as lead underwriters for the IPO. (bit.ly/1qz17WH)
Zayo, whose rivals include CenturyLink Inc and
Equinix Inc, has a network covering about 300
countries, connecting the largest U.S. and European cities.
The company's network connects 14,490 buildings, including
3,838 cellular towers and 527 data centers.
Zayo is backed by private equity and venture capital firms
including GTCR LLC, Oak Investment Partners, M/C Partners,
Columbia Capital and Charlesbank Capital Partners.
Zayo's regional and metropolitan fiber networks allow its
customers, which include telecommunication carriers, to
transport data, voice, video and internet traffic as well as to
interconnect their networks.
The company's revenue almost tripled to about $1 billion in
2013, but net loss widened to $137.2 million from $1.2 million a
Zayo had debt of about $3 billion as of March 31.
Reuters reported in April that Zayo was exploring a public
listing that could value the company at about $7 billion and
that the company was speaking to investment banks.
Zayo, founded by Level 3 Communications Inc former
executives Dan Caruso and John Scarano, plans to use the
proceeds from the offering for debt repayment and general
Zayo did not say in the filing how many shares will be sold
in the offering or on which exchange the stock will be listed.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
(Reporting by Neha Dimri in Bangalore; Editing by Savio D'Souza
and Kirti Pandey)