euNetworks refinances its existing debt and secures an additional sustainability debt financing commitment to drive continued growth

LONDON–(BUSINESS WIRE)–euNetworks Holdings Limited (“euNetworks”), a Western European bandwidth infrastructure company, today announced that it has completed the refinancing of existing debt as well as the raising of significant undrawn and committed credit facilities to fund construction and development of the next generation of critical bandwidth infrastructure in Europe. This new long-term infrastructure financing solution offers total debt facilities of €760 million.

euNetworks builds and invests in city and long distance fiber networks to connect key data centers and data center hubs across the UK and Europe. The company owns and operates deep fiber networks in 17 cities and also operates a highly differentiated long-haul network that today spans 15 countries. Recent investments in super highways on long-haul routes reflect euNetworks’ commitment to meeting Europe’s future international bandwidth needs and the company continues to build unique routes, add multiple diverse paths and expand its reach into major large-scale data center sites, data center clusters and point network aggregation. These investments continue to fuel business growth and are driven by the capacity needs of euNetworks customers.

The refinancing has attracted strong interest from infrastructure lenders, ranging from banks to blue-chip institutional investors, reflecting euNetworks’ strong infrastructure credentials. It is sustainability-linked debt financing, focused on key social and environmental performance objectives that reflect euNetworks’ ESG agenda. The funding includes a large committed revolving investment facility to support future organic growth opportunities and M&A activity, and establishes a long-term funding platform provided by 16 backers, including Allianz Global Investors, AXA IM Alts, Edmond de Rothschild AM BRIDGE, MEAG, Schroders Capital, Vantage Infrastructure, Banco de Sabadell, DNB (UK) Limited, Export Development Canada (EDC), Intesa Sanpaolo, Lloyds Bank, National Australia Bank, National Westminster Bank plc, NIBC, Santander and Royal Bank of Canada.

“This refinancing allows us to continue to grow in partnership with our customers, to continue to invest in new technologies and to continue to deepen our network footprint,” said Brady Rafuse, Managing Director of euNetworks. reflects the strong proposition and core infrastructure features offered by euNetworks We are delighted that this debt increase has provided the opportunity to anchor our commitment to sustainability through the inclusion of key performance indicators related to the ‘ESG and thank our lenders for their support as we continue to build and deploy fiber network infrastructure in Europe.

“There is no shortage of attractive capital opportunities in Europe and this new long-term infrastructure financing will allow euNetworks to leverage its unique position in the region, fueling additional organic growth,” said Brian McMullen. , Senior Managing Director of Stonepeak. “As the fastest growing fiber company in Europe, euNetworks continues to stand out in an increasingly connected society, where certain fiber backbones underpin the digital infrastructure ecosystem. The team continues to do exceptional work, and we remain committed to supporting them as they move forward, deploying capital as they go.

euNetworks was advised by RBC Capital Markets (debt advisor) and Allen & Overy (legal advisor). The lenders were advised by Latham & Watkins.

About euNetworks

euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre-based metro networks connected to a high-capacity intercity backbone covering 51 cities in 15 countries across Europe. The company is the market leader in data center connectivity, directly connecting more than 455 today. euNetworks is also a leading cloud connectivity provider and offers a focused portfolio of metro and long-haul services including dark fiber, wavelengths and Ethernet. Wholesale, finance, content, media, mobile, data center and enterprise customers benefit from euNetworks’ unique fiber and conduit-based asset inventory that are tailored to meet their high bandwidth requirements. For more information, visit eunetworks.com.

About Stone Peak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real estate assets with approximately $39 billion in assets under management. Through its investments in defensive businesses with sustainable assets globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The company provides capital, operational support and committed partnership to sustainably increase investments in its target sectors, including communications, energy transition, power and renewables, transport and logistics, and water. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston and Sydney. For more information, please visit https://stonepeakpartners.com.

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