Clifford Chance advised Infracapital on financing facilities for Infrafibre Germany
Clifford Chance advises Infracapital on financing facilities for Infrafibre Germany
The purpose is to fund the ongoing rollout for the deprived communities
International law firm Clifford Chance has advised Infracapital, the infrastructure equity investment arm of M&G Plc on a financing agreement for its German fibre infrastructure asset, Infrafibre Germany (IFG).
The deal comprises seven-year infrastructure-style debt facilities underwritten by NatWest, ABN AMRO, and NORD/LB with SEB acting as a cornerstone lender.
IFG targets underserved and rural areas in Southern Germany to deploy fibre infrastructure to the cabinet (FTTC) and to the premises (FTTP). The total facility size is €895m, comprising €500m committed upfront (incl. a €40m RCF), and a €395m uncommitted accordion tranche. These will be paramount to supporting IFG's growth ambitions to reach its target of c. 510,000 homes by 2026.
Germany is one of the most underserved broadband markets in Europe and the platform's network has already reached c. 150,000 residences.
The multi-jurisdictional Clifford Chance global financial markets team in London comprised partners Julia House and Michael Bates, senior associate Skanda Kumble and associate Yasmin Johnson.
In Frankfurt, the team was led by partners Dr. Christof Häfner and Georg Lübbehüsen. The Luxembourg team was led by partner Marc Mehlen, senior associate Alexandre Sensi and trainee Pierre Bellec. The advice on hedging was initiated in London by partner Anne Drakeford and senior associate Katy Parkes.
