Hamburg Commercial Bank invests in second broadband and optic fibre project in Spain

Hamburg Commercial Bank invests in second broadband and optic fibre project in Spain

(PRESS RELEASE) HAMBURG/KIEL, 13-Feb-2019 — /EuropaWire/ — Hamburg Commercial Bank participates in EUR 100 million financing for the Spanish company Adamo Telecom Iberia S.A.U. The allocated resource by the bank is EUR 30 million taking part in the deal as a lead arranger and structuring bank. ING and Santander are the other banks that took part in the project financing deal.

ADAMO is the leading private broadband network operator in Spain and the funding will be used to drive a further expansion to 1.14 million household connections and the project is planned to be completed by the end of 2021. The company operates its own Backbone and has offices in Barcelona and Madrid.

Hamburg Commercial Bank and equity investor EQT, once again, successfully collaborated over the current financing deal. EQT already has a stake in ADAMO, which it acquired in 2017.

This is the second financing of broadband and optic fibre project for the bank in Spain. The first is for Uffinet, which happened in 2018.

Anastasia Peres, CFO of Adamo Telecom Iberia S.A.U.:

“We are delighted about the trust Hamburg Commercial Bank has shown in ADAMO, and that it supports us in shaping the future of our company”.

Dr. Marcus Kleiner, Head of Infrastructure & Logistics at HSH Nordbank:

“We are very pleased about the fact that we were able to demonstrate again our expertise as one of Germany’s leading finance providers in digital infrastructure in general and in the ongoing optic fibre roll-out across Europe in particular”.

SOURCE: Hamburg Commercial Bank



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