• Recent activity confirms UniCredit's position as a leading arranger and financier of European fibre optic networks, as well as the bank's commitment to the development of digital infrastructure.
• Open Fiber deal represents biggest-ever EMEA financing transaction in telecommunications networks.
UniCredit has played a key role in the financing of European fibre optic networks in recent months, bringing fibre-to-the-home ('FTTH') connections to over 34 million households as the region looks to improve its connectivity to meet European Union objectives.
In Italy, the bank concretely supported Open Fiber's EUR 7.17 billion project financing agreement to fund the development of a national fibre optic network that will connect 24 million households over the next six years - thereby advancing the Italian government's agenda to close the 'digital divide'.
The deal itself represents the biggest-ever EMEA financing transaction in telecommunications networks.
In Germany, over the last fifteen months, UniCredit has been at the forefront of project financing agreements with Deutsche Glasfaser, GlasfaserPlus and Unsere Grüne Glasfaser. Taken together, these projects are expected to bring FTTH connections to over ten million households.
Elsewhere in Romania, UniCredit advised Meridiam Infrastructure around the roll out of Bucharest's fiber network - assisting the client in raising a EUR 55 million financing package.
Goffredo Guizzardi, UniCredit's Head of Specialised Lending, commented: "Recently syndicated deals involving Open Fiber, Deutsche Glasfaser, GlasfaserPlus and Unsere Grüne Glasfaser both confirm UniCredit's steadfast commitment to supporting clients in the digital space and the bank's pan-European credentials. Moving forward, we want to continue to play an active role in the provision of fast and future-proof internet services - consolidating our position as one of the leading telecom banks in Europe whilst empowering our communities to progress."
JUNE 2022 - UniCredit supports Open Fiber in EUR 7.17 billion project financing to fund the development of a national fibre-optic network to connect 24 million households over next six years
- In its capacity as Mandated Lead Arranger, Underwriter and Bookrunner, Agent, Account and Guarantee Issuing Bank, UniCredit supported the successful closing and syndication of a EUR 7.17 billion project financing agreement with Open Fiber, which currently represents the biggest-ever EMEA financing transaction in telecommunications networks.
- Open Fiber is the largest FTTH network operator in Europe and the project benefits from the support of strategic sponsors CDP and Macquarie European Infrastructure Fund 6 SCSP.
- The new business plan rests on the wholesale-only model which Open Fiber pioneered from the outset, a technologically advanced network available to all operators on equal terms, built on environmental, economic and social sustainability.
- The project covers both commercially attractive areas (ca. 19.3 million households), as well as less dense areas (overall ca. 4.3m households), benefitting from public grants of roughly EUR 3.7 billion made available from the PNRR to finance up to 70% of the investments' costs to deploy the network.
APRIL 2022 - UniCredit supports GlasfaserPlus GmbH in EUR 2.15 billion project financing to fund roll out of FTTH network across rural and semi-rural Germany
- In its capacity as Bookrunner, Underwriter, Mandated Lead Arranger, Facility and Security Agent, UniCredit supported the successful closing and syndication of a EUR 2.15 billion financing for GlasfaserPlus GmbH - a joint venture between Deutsche Telekom and the IFM Global Infrastructure Fund (advised by IFM Investors) which expects to build roughly four million FTTH connections across Germany by 2028.
MARCH 2022 - UniCredit advises Meridiam Infrastructure around roll out of Bucharest fiber network
- In its capacity as Sole M&A and Debt Adviser, UniCredit advised Meridiam Infrastructure around the roll out of Bucharest's fiber network.
- UniCredit advised the client in raising a EUR 55 million financing package from senior lenders to both refinance and restructure 100% of the existing debt at project level, as well as to finance the further expansion of the Romanian capital's fiber network - thereby aiming to double coverage of the current underground network over the next four years.
JANUARY 2022 - UniCredit supports Deutsche Glasfaser in EUR 5.75 billion project financing to establish over four million fibre-to-the home connections across Germany by 2025
- In its capacity as Bookrunner, Underwriter and Mandated Lead Arranger, UniCredit supported the successful closing and syndication of a EUR 5.75 billion financing for Deutsche Glasfaser - a leading independent FTTH network operator in Germany's rural and suburban areas.
- The project will support the roll out of FTTH connections to over four million households by YE2025.
- It is the largest FTTH financing in Germany to date and includes ESG-linked features, including the reduction of Deutsche Glasfaser's CO2 emissions in line with the Paris Agreement, its speed in connecting underserved regions, and the company's performance as a socially responsible place to work.
MARCH 2021 - UniCredit supports Unsere Grüne Glasfaser in EUR 1.65 billion project financing to fund roll out of FTTH network across rural and semi-rural Germany
- In its capacity as Mandated Lead Arranger and Bookrunner, UniCredit supported the successful closing of a EUR 1.65 billion project financing agreement with Unsere Grüne Glasfaser (UGG) - a leading German FiberCo.
- Set up as a joint venture between Telefonica and Allianz Capital Partners, UGG plans to invest some EUR 5 billion of equity and debt to fund its roll out of a FTTH network that will connect two million households in rural and semi-rural areas of Germany over the next six years.
- The partnership is the largest single infrastructure investment for Allianz Capital Partners (with EUR 1.0 billion of publicly committed equity) and will support Telefonica's growth strategy in Germany.
Milan, 21 June 2022
UniCredit Media Relations