United Fiber Secures €95 Million Financing for FTTH Expansion
Deal News | Feb 20, 2025 | National Bank of Greece SA
United Fiber, a subsidiary of United Group, has secured a €95 million bond loan from Eurobank and the National Bank of Greece under the National Recovery and Resilience Plan 'Greece 2.0.' This loan, part of the European Union’s NextGenerationEU funding, aims to advance United Fiber's Fiber To The Home (FTTH) deployment, targeting 830,000 homes by the end of 2025. This financial agreement underscores United Fiber's commitment to enhancing Greece's digital infrastructure as the country transitions into a Gigabit society. The loan, with an 8.5-year maturity, will fund a €166.1 million FTTH project, supplemented by United Fiber's own funds and further support from the Recovery and Resilience Fund. The initiative is part of United Group's overall €2 billion investment plan for Greece until 2027. The deal was witnessed by key figures from Eurobank, National Bank of Greece, and the Commander of the Special Coordination Service for Recovery and Resilience Facility, emphasizing the strategic importance of this investment for Greece's digital future.
Sectors
- Telecommunications
- Finance
- Infrastructure
Geography
- Greece – The events of the article are centered around investment in the Greek telecommunications infrastructure, involving Greek financial institutions and national recovery plans.
- European Union – The funding involves the European Union's NextGenerationEU program, highlighting the continent-wide commitment to digital transformation.
Industry
- Telecommunications – The subject matter revolves around United Fiber's expansion of the Fiber To The Home (FTTH) network, which is a key aspect of the telecommunications industry.
- Finance – The article involves a significant financial transaction, a bond loan agreement, involving Eurobank, National Bank of Greece, and funding plans under Greece's National Recovery and Resilience Plan.
- Infrastructure – The discussion of investment in fiber optic networks as part of the national infrastructure projects aligns with this sector.
Financials
- €95 million – The total bond loan amount secured by United Fiber from Eurobank and the National Bank of Greece.
- €166.1 million – The total financial requirement for the FTTH project, including funding from the RRF and bank loans.
- €59.4 million – Amount funded by the Recovery and Resilience Fund (RRF).
- €35.6 million – Amount equally funded by Eurobank and National Bank of Greece.
- €71 million – Amount to be covered by United Fiber's own resources.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| United Fiber | Target Company | Company | A subsidiary of United Group, focusing on fiber optic deployment in Greece. |
| United Group | Parent Company | Company | The parent company of United Fiber, leading telecommunications and media provider in South-East Europe. |
| Eurobank | Co-organizer of Loan, Bondholder Representative | Company | One of the two banks providing the €95 million loan and coordinating the financing. |
| National Bank of Greece | Co-organizer of Loan | Company | One of the two banks providing the €95 million loan. |
| Recovery and Resilience Facility (RRF) | Funding Source | Government | Part of Greece's national plan funded by the EU for recovery and transition to digital technologies. |
| Nova SA | Related Entity | Company | Another subsidiary of United Group related by ownership. |