Clifford Chance advises JBIC on EUR800 million financing for 5G Open RAN network development in Germany

Global law firm Clifford Chance has advised Japan Bank for International Cooperation (JBIC) on an up to EUR800 million financing for United Internet AG, of which JBIC’s portion is EUR300 million. The financing will support United Internet’s subsidiary, 1&1 AG, in establishing a 5G Open RAN network in Germany.

This innovative project utilises virtualised network software developed by Rakuten Symphony, Inc., a subsidiary of Rakuten Group, and represents a significant investment in developing a safe and high-quality network infrastructure, which will benefit Japanese companies expanding into Germany. This marks the first transaction under JBIC’s expanded mandate to finance foreign companies supporting infrastructure for Japanese businesses overseas.

Partner Yusuke Abe led a cross-border team of lawyers in Tokyo, Singapore and Frankfurt. The team comprised:

• Tokyo: Partner Hans Menski, senior associate Yuri Higashi, and trainee solicitor Sho Taniyama;
• Singapore: Associate Alex Murayama; and
• Frankfurt: Partners Bettina Steinhauer, Marc Benzler, and Olaf Mertgen, senior counsel Kerstin Schaepersmann, counsel Harald Amer, senior associates Nico Köhler and Steffen Waadt, associate André Michael Weber.

This transaction builds on Clifford Chance’s extensive experience advising JBIC on a wide range of financing transactions.