Deal details

Deutsche Glasfaser's FTTH Roll Out Project Financing

Description

Deutsche Glasfaser, a fiber-to-the-home (FTTH) provider in Germany, which is backed by EQT Infrastructure and OMERS, has signed a debt financing agreement totaling €5.75bn, with a consortium of lenders, for the purposes of i) refinancing its existing debt and ii) providing incremental capital to invest in fiber optic deployments in Germany. Notably, this deal represents the largest fiber optic financing transaction in Germany. This is an ESG-linked loan as the margins on the deal are tied to three KPIs - carbon dioxide emissions, connecting rural households to the fibre optic network and social responsibility as an employer.

Assets involved

Companies involved

  • Skandinaviska Enskilda Banken (SEB), KfW IPEX-Bank, BNP Paribas, UniCredit, ABN AMRO, Societe Generale, Santander, ING Bank, Sumitomo Mitsui Banking Corporation (SMBC), Credit Agricole CIB
  • Santander, AXA Financial, Societe Generale, BNP Paribas, Sumitomo Mitsui Banking Corporation (SMBC), KfW IPEX-Bank, Skandinaviska Enskilda Banken (SEB), ABN AMRO, Credit Agricole CIB, UniCredit, Landesbank Baden - Wurttemberg (LBBW), Infranity (Former Generali Global Infrastructure), Kommunalkredit Austria AG, National Australia Bank (NAB), ING Bank
  • BNP Paribas, Skandinaviska Enskilda Banken (SEB), Societe Generale, Sumitomo Mitsui Banking Corporation (SMBC), Credit Agricole CIB, UniCredit, ABN AMRO, KfW IPEX-Bank, Santander, ING Bank
  • OMERS Infrastructure Management Inc, EQT
  • ING Bank, Credit Agricole CIB
  • Infranity (Former Generali Global Infrastructure), Kommunalkredit Austria AG, Landesbank Baden - Wurttemberg (LBBW), AXA Financial, National Australia Bank (NAB)
  • ING Bank
  • Clifford Chance
  • EY-AHB, Credit Agricole CIB
  • Freshfields Bruckhaus Deringer
  • BDO Capital

Key information

Speedbreak BidCo GmbH

6506$m

31-03-2022

Telecoms and Communications / Broadband / cable network

Germany

Project & Infrastructure Finance

Not PPP

Tranche information

Term Loan

2829$m

Euro - EUR

2,500,000,000

7.0 years

-

Euribor

200.0

Term Loan

3394$m

Euro - EUR

3,000,000,000

7.0 years

-

Euribor

200.0

Revolving credit facility

282$m

Euro - EUR

250,000,000

7.0 years

-

Euribor

200.0