03:38 PM EDT, 08/14/2025 (MT Newswires) -- Apollo Global Management ( APO )-backed (APO) Brightspeed is seeking $1.65 billion in new financing to expand its fiber optic network, Bloomberg News reported Thursday, citing people with knowledge of the matter.

The financing would involve a first-out, first-lien bond offering that would carry a 10.5% coupon and mature in 2031, the report said.

The bond deal, initially set at $500 million, was increased twice due to strong interest from investors, the report said.

Apollo declined to comment, and messages for Brightspeed were not returned, Bloomberg said.

Apollo and Brightspeed did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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