Xplore Inc., a leading provider of high-speed broadband services to Canadians in rural communities, announced the completion of a comprehensive recapitalization valued at more than $1.8 billion of new funding committed through both private investment and multiple federal and provincial government broadband programs.

The investment is being led by Xplore’s controlling shareholder, Stonepeak, and includes other institutional investors.

Blake, Cassels & Graydon LLP and Simpson Thacher & Barlett LLP served as Canadian and US legal counsel, respectively to Stonepeak.

Goodmans LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Canadian and US counsel, respectively, to Xplore Inc.

Davies, Ward, Phillips & Vineberg LLP served as Canadian project finance counsel to Xplore Inc.

Bennett Jones LLP and Gibson, Dunn & Crutcher LLP served as Canadian and US counsel, respectively, to the lender committee.

McCarthy Tetrault LLP acted as Canadian legal counsel to the debt agents.

Borden Ladner Gervais LLP acted as Canadian legal counsel to Hughes Networks and Telesat.

Chaitons LLP acted as Canadian legal counsel to Surety providers.