EuNetworks Group has secured a debt funding commitment with Barclays Private Credit Partners Fund L.P. EuNetworks said €45 million is available and includes €30 million commitment to be used primarily for incremental organic and inorganic growth. Barclays Private Credit Partners has also retained an option to participate any future equity fundraisings by euNetworks. London-based euNetworks is a bandwidth infrastructure provider.
euNetworks Group Limited (SGX: H23.SI), today announced that it has entered into a term loan facilities agreement with Barclays Private Credit Partners Fund L.P.
Terms and conditions for the committed term loan facility including interest rate, total leverage incurrence test and delayed draw feature are favourable to market.
The term loan may be expanded to €45 million as organic or inorganic growth opportunities materialise. In addition, Barclays Private Credit Partners have reflected their commitment to euNetworks’ business by retaining an option to participate in any equity fundraising if euNetworks elects to pursue such an action in the future.
“We expect to utilise this funding from our new partner to deliver more bandwidth infrastructure services to our growing in-place customers and new customers,” said Brady Rafuse, Chief Executive Officer of euNetworks. “This is an exciting time for our business, and as ever, we are focused on delivering our targets for further scale.”
euNetworks Group Limited (SGX: H23:SI) is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 38 cities in 9 countries. The Company offers a portfolio of metropolitan and long haul services including Colocation, Dark Fibre, Metro Wavelengths, Wavelengths, Ethernet, and Internet. Enterprise and carrier customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.
euNetworks Group Limited is headquartered in London and publicly listed on the Singapore Stock Exchange. For further information please visit www.eunetworks.com.