Open Fiber seeking EUR500m bridge loan

22 Jun 2017

Italian wholesale fibre network operator Open Fiber is looking to secure a EUR500 million (USD557 million) bridge loan to help fund its ultra-broadband network rollouts. A report from Reuters cites unnamed sources as saying that the loan will be approved in the coming weeks and will be underwritten by UniCredit, Societe General and BNP Paribas. Open Fiber will then seek to put together a project finance package with banks worth around EUR3.5 billion, the report adds. The firm, which is controlled by Italian utility group Enel, has previously said that it would spend EUR6.5 billion to pass 19 million premises with fibre networks by 2022.

Italy, Open Fiber