Ashurst advised a consortium of banks including Kommunalkredit, NIBC and funds from UBS Asset Management Real Estate and Private Markets as lenders on a € 73 million financing to fiber network operator TNG. The funding will be used for the deployment of the fiber optic network in previously underserved rural areas of northern and western Germany. The funding has a term of five years.
Founded in 1997, the TNG Group is one of the leading operators of fiber optic networks in northern Germany. TNG is a holding company of Intermediate Capital Group, which acquired a majority stake in TNG in late 2020. The global asset manager currently manages more than € 47 billion in assets.
The Ashurst team was led by lawyer Sabrina Bremer and her partner Derk Opitz. They were assisted by partner Patrick Rauch, transaction manager Carina Gläßl and transaction lawyer Jeanine Boch-Kraul (all Global Loans, Frankfurt).
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity firms and corporations on domestic and cross-border acquisitions, real estate, asset and infrastructure finance / projects as well as financial restructuring and business loans. The team is particularly focused on fiber optic networks.