Ashurst advised a consortium of banks comprising ABN Amro, ING, KfW, KfW Ipex-Bank, Kommunalkredit Austria, LBBW, NatWest, NordLB and SEB on an investment financing for the fibre-roll-out of Deutsche GigaNetz.
The financing consists of a capex and a revolving credit line. A significant component of the financing is an investment loan from KfW for digital infrastructure. Besides this, an investment facility is being granted, in which the interest rate reflects the fulfilment of sustainability goals of Deutsche GigaNetz. The funds will be used to push ahead with the planned fibre-roll-out in rural areas in Germany.
Deutsche GigaNetz, headquartered in Hamburg, is financed by funds managed by InfraRed and strategically supported by InfraRed. In addition, DWS Group has recently become the second major investor of the telecommunications company.
The Ashurst team was led by partner Derk Opitz. He was assisted by counsel Gabrielle Metherall, associate Nils Boie-Wegener and transaction counsel Kerstin Hartmann (all Global Loans). Partner Dr Anders Kraft and senior associate Dr Susanne Knoch advised on tax law aspects. Advice on corporate law was provided by partner Jan Krekeler and transaction counsel Sandra Schmidt.
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.
