Clifford Chance advises on €350m incremental sustainable financing to Adamo Telecom

Clifford Chance has advised a pool of lenders on the 350 million euros incremental sustainable financing granted to Adamo Telecom. This financing will support the continuing extension of Adamo Telecom’s fibre optic network in rural Spain.

Rural fiber optic operator Adamo, majority-owned by Ardian, has recently signed a EUR 350 million extension of its sustainable financing, with the aim of expanding its infrastructure. The company explains that this financing is in addition to the 600 million euros it already had.

The bank financing has been led by ING and Société Générale as financial advisors and has a strong consortium of 11 banks: ING and Société Générale as Bookrunners and Mandated Lead Arrangers; ABN AMRO, HCOB, ICO, Infranity, KFW, Kommunalkredit and SMBC as Mandated Lead Arrangers; EDRAM as Lead Arranger; and SCOR Investment Partners as Arranger. Instituto de Crédito Oficial (ICO) and German banks HCOB and KFW have joined Adamo as new lenders.

The Clifford Chance team was led by global financial markets partner Rodrigo Uría, together with senior associate James Rodier, associate María Vispo and counsel María Sabau.

Julia Gil