EQT and Omers increase investment in Deutsche Glasfaser to nearly €5 billion to prevent lender seizure

Private capital firm EQT and Canadian pension fund Omers increased their investment in Deutsche Glasfaser, a German broadband provider, to nearly €5 billion ($5.88bn) to prevent lenders from seizing control of the heavily indebted business. The two investors, who acquired Deutsche Glasfaser in 2020 for €2.8bn ($3.29bn) from KKR, have already injected €4bn ($4.7bn) into the company and will contribute an additional €850m ($1bn) in preferred equity to secure €400m ($470m) of new super-senior debt. Deutsche Glasfaser, founded in 2011, aims to expand its fiber network to 3.2 million households in Germany by 2032, down from an original target of 6 million by 2030. The company has reached 2.6 million homes with its fiber network to date and faces gross debt exceeding €7bn ($8.24bn).

Counterparts (3)

borrower

Deutsche Glasfaser

company · 1 deals

Deutsche Glasfaser is a leading German fiber-to-the-home (FTTH) network developer and operator, providing high-speed internet, telephony, and TV services with speeds up to 1 Gbit/s. The company focuses on nationwide fiber rollout in rural and suburban areas across all 16 German federal states.

Investor

OMERS

company · 1 deals

OMERS is a defined benefit pension plan for municipal employees in Ontario, Canada. OMERS Infrastructure invests globally in a range of infrastructure assets, including utilities, energy, transportation and digital services.

EQT

company · 6 deals

EQT is an investment organization committed to creating value by finding good companies and helping them become the most promising builders of tomorrow. With a global presence, they take responsibility for shaping a brighter future, believing that doing good is good business.