Glaspoort successfully secures sustainable linked financing for future fibre roll out

’The closing of this financing is an important step in supporting the continued growth of Glaspoort and underpins Glaspoort’s strategy to connect 1.5 million households and businesses. The successful closing of the financing is a testament to the confidence of Glaspoort’s existing and new international lender group in our company’s performance and future strategy. Additionally, in order to align this financing with Glaspoort’s ESG strategy, we have included sustainability targets in the loan, further evidencing Glaspoort’s ESG ambitions.’ According to Ferry Niers, CFO of Glaspoort.

The EUR 1.2 billion secured financing consists of a EUR 525 million capex facility and a EUR 675 million term loan and includes an uncommitted accordion option of EUR 500 million (the “Facilities”).

The Facilities include a sustainability-linked margin mechanism, with key performance indicators linked to: 1) Supply chain engagement and Scope 3 greenhouse gas emissions; 2) the company’s GRESB score, and 3) digital inclusion.

ING acted as sole Debt Advisor and Sustainability Coordinator to Glaspoort with Clifford Chance and A&O Shearman acting as legal advisors.

The Facilities, which were coordinated and bookrun by ABN AMRO and ING, were well received by the market and were significantly oversubscribed, underpinning the international demand for the strong credit profile of Glaspoort as a key player in the Dutch fibre market.

Mandated Lead Arrangers: ABN AMRO, Coöperatieve Rabobank, ING, Goldman Sachs, KFW IPEX-Bank, LBBW, MUFG Bank Europe and UniCredit.