GlasfaserPlus

GlasfaserPlus FTTH Project - Financing

Borrower (s)
GlasfaserPlus
Industry
Telecoms and Communications/Broadband / cable network
Area of finance
Project & Infrastructure Finance
Region
Europe
Countries
Germany

Deal Overview

Syndication has closed on the €2.15 billion project financing for the GlasfaserPlus FTTH project. The financing is designed to aid the roll-out of GlasfaserPlus's FTTH network across Germany. GlasfaserPlus is a joint venture between Deutsche Telekom and IFM Global Infrastructure Fund (IFM)....

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Syndication has closed on the €2.15 billion project financing for the GlasfaserPlus FTTH project. The financing is designed to aid the roll-out of GlasfaserPlus's FTTH network across Germany. GlasfaserPlus is a joint venture between Deutsche Telekom and IFM Global Infrastructure Fund (IFM). According to a source close to the transaction, the debt comprises a €2 billion capex facility and a €150 million revolving credit facility (RCF). The financing is structured as a mini-perm and has a tenor of seven years. Underwriters and bookrunners on the deal include BNP Paribas, LBBW, UniCredit, Credit Agricole, NatWest, and NatWest Markets. The syndicate of lenders is made up of a further sixteen banks, with MLAs including CaixaBank, KfW, ABN Amro, BBVA, BayernLB, Erste Bank, Helaba, MUFG, and SEB. NIBC is also part of the lending group. Freshfields Bruckhaus Deringer is legal adviser to GlasfaserPlus and Clifford Chance is counsel to the underwriters. The project aims to install four million gigabit-capable FTTH connections by 2028.

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Deal Volume
$ 2.3bn
Financial Close
26 May 2022
Sources

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Tranches


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Projects

GlasfaserPlus FTTH Project

Greenfield
Broadband / cable network
Europe
Germany
$ 2.3bn