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Latham Advises CityFibre on its £4.9 Billion Financing

June 9, 2022
London finance team advises on one of Europe's largest ever Full Fibre financings.

Latham & Watkins has advised CityFibre, the UK’s largest independent carrier-neutral Full Fibre platform owned by Antin Infrastructure Partners, Goldman Sachs Asset Management, Mubadala and Interogo, on its £4.9 billion financing, comprising committed facilities of £3.9 billion and an accordion facility of £1 billion. These facilities form one of the largest single financings dedicated to Full Fibre deployment across Europe, and fully fund CityFibre’s roll-out to a third of the UK market by 2025, as well as enabling its upweighted participation in Building Digital UK’s ‘Project Gigabit’ rural programme.

The debt raise is underwritten by NatWest, Société Générale, Crédit Agricole CIB, BBVA, Intesa Sanpaolo, ING, and SEB; with ABN AMRO, Lloyds Bank, M&G Investments, and the UK Infrastructure Bank (UKIB) joining as core lenders. 

The Latham team was led by London finance partners Conrad Andersen and Seonaid Todisco, with London finance associates Laura Elliott and Harry Webb. Advice was provided on tax matters by London associates Aoife McCabe and Sam Duncan; and on derivatives by London associates Delyth Hughes and Nick Surry.