News

Fibre 31 Financial closing – Haute-Garonne FTTH in France

11 July 2018

Paris / Luxembourg, 10/07/2018 – Today Fibre 31 and Haute-Garonne Numérique celebrated the signature of the 25-year Public Service Concession agreement for the design, build, finance, marketing, operation and maintenance of an FTTH network across the entire Haute-Garonne area that reached financial close on July 3rd.

The fibre optic network will be rolled out in about 280 000 households, public institutions and companies by 2022.

For the closing of the transaction a total of EUR298 million of bank debt and sponsors’ equity were provided and will be supplemented by public contributions. Total project investment of Fibre 31 over the duration of the Public Service concession is estimated to reach about EUR516 million.

Sponsors of Fibre 31 are Altitude Infrastructure THD (50%), Caisse des Dépôts Group (25%) and Marguerite (25%). The project is financed by a pool of seven lending banks : Société Générale, BNP Paribas, La Banque Postale, Crédit Foncier de France, Arkea Banque Entreprises et Institutionnels, Caisse d’Epargne de Normandie and Caisse d’Epargne de Midi-Pyrénées.

In this transaction the sponsors were advised by Bird & Bird (legal), H3P (financial) and Forex Finance (hedging); lenders were advised by Orrick Rambaud Martel (legal), Mott MacDonald (technical), Gras Savoye (insurance) and KPMG (modelling).

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