San Francisco-headquartered US Capital Global has entered into a term sheet to provide credit facilities totalling a minimum of $100 million to Laser Light Companies, subsidiaries of Bermudian-based Laser Light Holdings Ltd.

Laser Light is designing and building an advanced global platform that will be the world's first converged on-demand optical network.

It plans to use the new credit facilities to support its accelerated beta roll-out of its next-generation data infrastructure across five continents in partnership with Nokia Technologies.

Bob Brumley, chairman and CEO of Laser Light Companies, said: "We are honoured to have US Capital Global with us to enable our unique converged data platform as they not only share our vision but also have the ability to provide Laser Light with debt financing on a global scale.

“With their support, along with Nokia's worldwide partnership, we will be able to accelerate our beta deployment plans to address the ever-growing and dynamic demands for data — globally, regionally and at the far edge.”

Ish Spencer, managing director and partner at US Capital Global, said: "Over the past several years, US Capital Global has provided and advised billions in debt and equity financing for businesses in a variety of industries including technology and telecommunications industries.

"We are pleased to be offering our financial services to Laser Light Companies and supporting them with initial debt financing of $100 million."

Laser Light is being advised by DelMorgan & Co, an internationally recognised investment banking firm, as lead strategic transaction adviser in connection with Laser Light's raising of equity and debt to enable the company to accelerate and scale its global deployment of infrastructure.

Laser Light said it will deliver a first-of-a-kind 21st-century data platform that will transform the way high-volume data communications traffic is carried and distributed.

Using a hybrid approach converging terrestrial, sub-sea and space domains, an end-to-end software architecture favouring "always best route, best latency", and a unique business model that emphasises efficiency, and operational simplicity, the Laser Light all-optical platform will connect companies, countries and continents at high speed, more flexibly, securely and economically than ever before, the company said.