Wildblue Communications Inc. completed a $350 million debt financing round intended to fund the growth of the company’s satellite broadband business, Wildblue announced Aug. 21.

The financing round, led by Liberty Media Corp. and Tennenbaum Capital Partners LLC, includes a credit facility that refinances a portion of the shareholder financing that Wildblue secured in January and $170 million of additional financing. Certain other shareholders who participated in the original financing, such as the National Rural Telecommunications Cooperative, also are participating in the new financing round.

Wildblue “has created a very strong competitive offering and has developed a formidable set of distribution partners that will enable the company to execute its business plan,” Michael Leitner, managing director of Tennenbaum Capital, said in a statement. “We are excited about the opportunity to support their strategic initiatives and believe that their revenue and cash flow growth potential is excellent, given surging demand for broadband services in these historically underserved geographies.”