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GFNW extends its financing by EUR 600 million

A&O Shearman has advised Glasfaser NordWest GmbH & Co. KG (GFNW), a joint venture of Telekom Deutschland GmbH and EWE AG, in connection with the extension of its financing in the amount of EUR 600 million. The financing is being provided under an accordion facility that was already set up when the initial financing was arranged in 2022.

The EUR 600 million secured credit facility extends the existing financing from approximately EUR 800 million to now EUR 1.4 billion. Hereby, GFNW is enabeld to consistently pursue its growth plans and sustainably drive forward the company's expansion, thus taking a major step closer towards its aim to supply 1.5 million households with fibre optics.

The majority of GFNW's relationship banks participated in the extension of the financing, which underscores the trust and support of the existing lenders. In addition, six further financial institutions were added to the existing group of banks in order to further diversify and strengthen the financing. GFNW can now rely on a total of 13 strong financing partners at its side, which are ABN AMRO, BayernLB, BNP Paribas, Crédit Agricole, Helaba, ING, KfW, KfW IPEX, LBBW, MUFG, NatWest, NordLB and UniCredit.

The A&O Shearman team was led by partner Dr Rauni Ahammer and comprised associates Dr Georg Lütkenhaus und Dr Laura Frömel (all Banking and Finance, all Munich). Counsel Jens Nollmann (Capital Markets, Frankfurt) advised on hedging issues. 

A team from A&O Shearman (then Allen & Overy) had previously advised GFNW in 2022 in connection with its debut financing.

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