Linklaters advises FiberCo on a EUR 690m financing for the development of a fiber-to-the-home network

Linklaters has advised Światłowód Inwestycje (a 50/50 joint venture between Orange Polska S.A. and the APG fund) on a EUR 690m (approx. PLN 3.15 bn) financing for the development of a fiber-to-the-home (FTTH) network for c. 1.7m households in Poland. This is one of the most important telecom transactions on the Polish market, which will largely contribute to the accessibility of high-speed internet across the country, especially in undersupplied areas.

The seven-year financing was provided by a syndicate of domestic and international financial institutions, including European Investment Bank and underwriters: BNP Paribas, ING Bank N.V., Société Générale S.A. and Santander Bank Polska S.A.

Closing of the transaction is conditional upon its approval by the relevant competition authorities, which is expected to be granted by the end of August 2021. The fiber network is planned to rollout by 2025.

Orange Polska is one of the largest telecommunications service providers in Poland, operating in all segments of the telecommunications market and is listed on the WSE.

The Dutch APG group is one of the world’s largest independent pension fund management companies.

The Linklaters banking and finance team was managed by Adrian Horne, counsel, and included Katarzyna Lesińska and Piotr Hurkała, senior associates.

The wider team featured lawyers from the corporate practice: Marcin Schulz, partner, Christopher Quinn, counsel, as well as Klaudia Owsianka and Piotr Zbyszyński, senior associates.