Hamburg Commercial Bank driving optic fibre expansion in Spain forward
Hamburg/Kiel, February 13, 2019 - Hamburg Commercial Bank is making available EUR 30 million in project finance to Spain’s leading private broadband network operator ADAMO as mandated lead arranger and structuring bank to drive a further expansion to 1.14 million household connections.
The project is due to be completed by the end of 2021. The other participants in the club deal with a total investment volume of EUR 100 million are ING and Santander.
Following the financing of Uffinet last year, this is Hamburg Commercial Bank’s second broadband and optic fibre project finance in Spain. In the current transaction the Bank once again successfully collaborated with equity investor EQT, which acquired an initial stake in ADAMO in 2017.
“We are delighted about the trust Hamburg Commercial Bank has shown in ADAMO, and that it supports us in shaping the future of our company”, said Anastasia Peres, CFO of ADAMO TELECOM IBERIA S.A.U.
“We are very pleased about the fact that we were able to demonstrate again our expertise as one of Germany’s leading finance providers in digital infrastructure in general and in the ongoing optic fibre roll-out across Europe in particular”, said Dr. Marcus Kleiner, Head of Infrastructure & Logistics at HSH Nordbank.
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