The banks will act together as the main mandated arrangers and creditors. BCR is also the documentation and guarantee agent, with Erste Group Bank a facility agent.
The funding will be used to refinance 100% of Netcity Telecom’s existing debt at the project level and to finance the continuous expansion of the underground fibre network in the Romanian capital.
The Netcity network of over 1,760km covers the main parts of Bucharest and connects over 30,000 buildings in the city. It is in continuous development and expected to double its coverage in the next four years.