Open Fiber Granted 35 Billion Euro Project Financing For Italian Fiber Optic Network

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Open Fiber Granted 35 Billion Euro Project Financing For Italian Fiber Optic Network

MILAN – Italy’s Open Fiber said on Friday banks, state lender CDP and the European Investment Bank had signed off on a 3.5 billion euro project finance package to help fund the ultrafast broadband network it is rolling out across the country.

The funding, the biggest-ever project finance deal for an optic fiber network in the EMEA region, is led by UniCredit, Societe Generale and BNP Paribas.

Open Fiber, jointly owned by CDP and utility Enel, also said its two shareholders would grant a maximum further 950 million euros.

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