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A&O advises euNetworks on long term infrastructure financing

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Edward Moser

Partner

London

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Page Alexandra
Alexandra Page

Associate

London

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Susanna Robinson

Senior Media Relations Manager

London

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09 December 2021

Allen & Overy has advised euNetworks Holdings Limited (euNetworks), a Western European bandwidth infrastructure company, and its subsidiaries on the establishment of a new common terms financing platform.

The long term financing solution provides total debt facilities of EUR760 million which will be applied to refinance the existing indebtedness of euNetworks and to fund the construction and development of the next generation of critical bandwidth infrastructure in Europe. The new financing arrangements, supported by 16 commercial banks and institutional debt providers incorporate a number of sustainability linked features, including key social and environmental performance targets that reflect euNetworks’ ESG agenda.

euNetworks builds,and invests in city and long haul fibre networks to connect key data centres and data centre hubs across Europe for its customers. The company operates these deep fibre networks in 17 cities and a highly differentiated long haul network that spans 15 countries.

Commenting on the transaction, infrastructure partner Ed Moser said: “It has been a pleasure to support euNetworks on this transaction, which will play an important role in supporting their future business plans and facilitate the roll-out of critical bandwidth infrastructure across Europe. The transaction illustrates the continuing significance of data infrastructure as an asset class and the appetite across both bank and institutional markets to invest in those assets.”

The A&O team was led by partner Ed Moser, senior associate Alexandra Page, associate Danielle Hyde and trainee Will Chuter in London; partner Wolfgang Melzer and senior associate Susanne Beckhaus in Frankfurt; partner Driss Bererhi and associate Aida Lamrani Karim in Paris; partner Jimena Urretavizcaya and associate Maria Ruiz-Gollury in Madrid and partner Femke Bierman and associates Iris van den Oord and Robin van Duijnhoven in Amsterdam.