Kentucky Closes Deal on Biggest Public-Private Partnership for Open-Access Statewide Fiber Access

The partnership of Macquarie Capital and infrastructure manager First Solutions recently closed on a monumental $232 million public-private partnership fiber project to bring high-speed internet to all 120 counties across the Commonwealth of Kentucky. The offering, which was recognized as the 2015 Bond Buyer Deal of the Year, forged new territory in the P3 market with its unique, first-of-its-kind approach to broadband connectivity on a statewide basis, and was the first non-transportation P3 to use a tax-exempt governmental purpose bond structure that achieved full risk transfer. The bonds were also issued in a fixed-rate structure with quarterly principal amortization to further reduce annual interest expense, another first for a P3 deal.  Officials from all perspectives of the deal (private developers, public authorities, lenders, construction contractors and service providers) will be engaging in this informative panel discussion to provide insight into the success of this large-scale deal and explain how the groundwork has been laid for implementation in additional states, further fueling broadband accessibility, job creation, health access and education.


  • Ed Crowston, CEO of First Solutions
  • Nicholas Hann, Executive Director of Infrastructure at Macquarie Group
  • Patrick Hughes, Economic & Infrastructure Development Partner at DBL Law
  • Mike Lee, CEO of KentuckyWired Operations Co. LLC
  • Mike Hayden, COO of Kentucky Communications Network Authority
  • Betsy Weber, Third Party Agreement Partner at DBL Law