Borken, Germany-based FTTH provider, Deutsche Glasfaser announced that it has expanded its debt capital base from EUR 650 million to up to EUR 1.8 billion - on better terms. The fixed financing framework is EUR 1.4 billion, which can be expanded by an additional EUR 0.4 billion.
Deutsche Glasfaser which focuses on the rural and suburban parts of Germany said that it had almost fully exhausted the EUR 650 million financing agreed at the beginning of 2018 due to its accelerated growth - faster than originally planned. Deutsche Glasfaser will use the almost tripled financial scope to further digitalize in Germany. Deutsche Glasfaser will significantly expand its original expansion plan. In the current year, the total of fiber optic connections and connections in the construction process will exceed the million mark, said the Company.
A total of 16 institutions are behind the new funding. Deutsche Glasfaser uses innovative planning and construction methods to lay sustainable fiber networks in a particularly fast, cost-effective and customer-friendly manner. The company mainly focuses on rural regions throughout Germany.
Jens Muller, CFO, Deutsche Glasfaser
The fact that we were able to conclude this financing at top conditions is a strong demonstration of trust from our donors in our many years of experience, our efficient processes and our technological lead in the FTTH expansion.
