Ashurst advises MEAG on innovative financing of Meridiam's FTTH roll-out

Ashurst advised MEAG MUNICH ERGO AssetManagement GmbH (MEAG) on a financing for Meridiam for the deployment of several FTTH networks in Germany. The innovative long-term 30-year bond financing will enable the deployment of more than 90,000 homes passed in seven municipalities in Germany with project partner Vodafone.

The long-term character of the financing is a novelty in the German fibre market. In addition, it is the first fibre roll-out financing by an institutional investor in Germany.

Paris-based Meridiam specialises in the development, financing, and long-term management of sustainable public infrastructure in three core sectors: sustainable mobility, critical public services and innovative low carbon solutions. Over the next 5 years, the company aims to roll out FTTH networks for 500,000 homes passed, and Vodafone will market gigabit broadband to the potential customers.

The Ashurst team was led by partnerDerk Opitzand senior associateAlexandra Heitmann. They were assisted by associateTobias Bürkand transaction lawyer Jeanine Boch-Kraul (allGlobal Loans), partnerDr Stephan Hennrich, counselDr Valentin Pfistererand associateChristoph Tornau(allCorporate Transactions), partnerDr Martin Eimerand senior associate凯特琳汉森博士(bothProjects– Construction & Engineering Contracting), counselHolger Mlynek(Infrastructure/Commercial) and senior associateDr Simon Groneberg(Infrastructure/Public Law).

In-house advice at MEAG was provided by Senior Legal Counsel Carsten Endres and Senior Legal Counsel Oliver Paasch.

Ashurst's German project finance practice regularly advises in the context of fibre roll-out financings.