Wolf Theiss advises Meridiam and Magenta Telekom’s Austrian fibre joint venture Alpen Glasfaser on raising EUR 417.5 million in financing

Vienna, 24 March 2023 – Alpen Glasfaser, the fibre joint venture between Austrian leading telecommunications operator Magenta and renowned European investor Meridiam, raised EUR 417.5 million in financing for the roll-out of its high-speed fibre broadband network with legal assistance from Wolf Theiss.

The joint venture raised a EUR 412.5 million CAPEX facility and a EUR 5 million revolving credit facility from six major Austrian, German and French banks for the roll-out of its high-speed fibre broadband network, providing approximately 650,000 buildings with high-speed FTTH (“Fibre to the Home”) internet connections.  

Wolf Theiss, represented by leading lawyer and Partner Andreas Schmid, Senior Associate Markus Aigner, Counsel Mimo Hussein (Banking & Finance), Partner Christian Mikosch, Senior Associate Gregor Grablowitz (Corporate/M&A), Consultant Karin Spindler-Simader as well as Counsel Eva Stadler (Tax), advised Magenta and Meridiam particularly with regard to the preparation and conclusion of the loan agreement documentation.

Partner Andreas Schmid describes the mandate as “another milestone project in Wolf Theiss’ digital infrastructure portfolio which highlights the substantial experience and professionalism of Wolf Theiss’ Banking and Finance team.”

Wolf Theiss has been representing Magenta since the project’s kick-off, having already advised the company on the establishment of the joint venture.

Magenta and Meridiam aim to link more than 650,000 buildings in Austria to the network with a joint investment of EUR 1 billion by the end of 2030 – making Alpen Glasfaser currently the largest private fibre partnership in Austria. While Alpen Glasfaser will be responsible for the construction and passive maintenance of the high-speed fibre broadband network, Magenta Telekom will market the products and services for end customers.

The joint venture was also represented by Freshfields.

UniCredit Bank Austria, KfW IPEX-Bank, La Banque Postale, Erste Group Bank, Natixis and Hypo NOE formed the lending group, which was advised by Clifford Chance and – with regard to the Austrian law aspects – by Binder Grösswang (lead: Partner Stefan Tiefenthaler, Associate Philipp Schermer).