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White & Case advises Open Fiber on €7 billion project financing

Global law firm White & Case has advised Open Fiber S.p.A. on its €7 billion financing.

It is the largest project financing operation ever carried out on infrastructure networks in the EMEA region, includes a tranche dedicated to institutional investors, and will support Open Fiber's development of an ultra-broadband network in Italy and the refinancing of the company's current financial indebtedness.

The new facility replaces the previous €4.145 billion project financing entered into in 2018 and increased in 2020. The pool of banks included Banco BPM, BNP Paribas, Crédit Agricole, ING, Intesa Sanpaolo, Santander, Société Générale and Unicredit.

The White & Case team that advised on the transaction consisted of partners Iacopo Canino (Milan), Michael Immordino (London & Milan) and Ferigo Foscari (Milan) and associates Stefano Bellani and Nicola Tosin (both Milan).

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