TNG Secures €175 Million Debt Funding for German FTTH Expansion

TNG Glasfaser GmbH, a company specializing in fibre-to-the-home (FTTH) broadband networks in Germany, has secured an additional €175 million in debt commitments to support its ongoing expansion in rural and suburban areas. This new tranche of funding adds to an existing financing package, which originally secured €325 million in November 2022, and includes an option for further increase. The transaction attracted strong interest, resulting in oversubscription and underscoring TNG's robust growth strategy and execution capabilities. New lenders such as the National Australia Bank and an institutional investor joined the financing. The capital injection aligns with TNG's goal to extend fibre broadband access to over 500,000 homes across Schleswig-Holstein, Hesse, and Baden-Württemberg in the coming years. The deal also features additional equity contributions from majority shareholder ICG Infra, supporting their strategy of investing in high growth potential digital infrastructure companies. TNG's proven track record in deploying profitable FTTH networks and its integrated business model have been pivotal in obtaining this financing. TNG's management is bolstered by Macquarie Capital for financial advice, Altman Solon for commercial due diligence, and legal support from Latham & Watkins and Freshfields.