Eolo SpA secures €500m private debt refinancing from Apollo Global Management

Type: Financing · Technology: Telecom · Country: Italy · Value: EUR 500M · Announced: 2026-06-19

Italian broadband provider Eolo SpA is finalizing a €500 million private debt refinancing package with Apollo Global Management to replace its existing capital structure, including €375 million of high-yield bonds and a €140 million revolving credit facility, both maturing in 2028. The financing will support Eolo's ongoing network expansion across Italy, where it operates a fixed wireless access and fibre-to-the-home broadband network. Partners Group, which acquired a majority stake in Eolo in 2021 for over €1.2 billion, has provided multiple equity injections to sustain the company's capital-intensive growth strategy. Moody’s maintains a B3 credit rating on Eolo, citing high leverage and substantial capital expenditure needs despite its strong competitive position in Italy’s broadband market. The refinancing reflects a broader industry trend toward private credit solutions as leveraged borrowers seek alternatives to public bond markets amid refinancing pressures.

Analysis

Eolo SpA has secured a €500 million private debt refinancing from Apollo Global Management to replace its existing capital structure, including €375 million of high-yield bonds and a €140 million revolving credit facility, both maturing in 2028. Apollo Global Management is a leading global alternative investment manager with a significant focus on infrastructure assets. Partners Group, which acquired a majority stake in Eolo in 2021 for over €1.2 billion, has provided multiple equity injections to sustain the company's capital-intensive growth strategy. The refinancing will support Eolo's ongoing network expansion across Italy, where it operates a fixed wireless access and fibre-to-the-home broadband network. The deal was announced on 2026-06-19.

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