Deutsche Glasfaser’s EUR 1.8 Billion Refinancing

Clifford Chance advised Deutsche Glasfaser on the refinancing of its EUR 650 million loan agreement with a new up to EUR 1.8 billion syndicated facilities agreement.

The new refinancing with improved conditions serves the further expansion of the optical fibre infrastructure in Germany, in particular in rural areas. The construction of additional broadband connections is an important requisite for the digitalization of the economy and the society as a whole.

Due to its accelerated growth Deutsche Glasfaser had already almost completely used the funds available under the EUR 650 million syndicated loan from January 2018 – faster than originally anticipated. A total of 16 financial institutions are participating in the new financing which enables Deutsche Glasfaser to significantly expand their construction planning and activity.

Deutsche Glasfaser plans, constructs and operates optical fibre networks is Germany and provides fibre broadband connection to private homes and businesses. The group with seat in Borken, Germany, was founded by the Dutch investor Reggeborgh. In 2015 KKR acquired a majority stake in the Deutsche Glasfaser group.

The Clifford Chance team for the refinancing of Deutsche Glasfaser comprised partner Barbara Mayer-Trautmann (Picture), senior associates Christoph Nensa, Melanie Schmitz and transaction lawyer Stefanie Vogt (Frankfurt, all Acquisition Finance) and was supported by partner Marc Mehlen and associate Alexandre Sensi on Luxembourg law aspects.

Involved fees earner: Barbara Mayer-Trautmann – Clifford Chance; Marc Mehlen – Clifford Chance; Christoph Nensa – Clifford Chance; Melanie Schmitz – Clifford Chance; Alexandre Sensi – Clifford Chance; Stefanie Vogt – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Deutsche Glasfaser;