Irish telecom provider Siro secured a €200 million ($267 million) revolving credit facility to fund the next phase of its rollout.
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The company, a joint venture between the ESB and Vodafone, has already spent €250 million ($278 million) on its fibre-to-the-home network, which is now live in 45 regional towns and urban areas.
The debt, a five-year revolving credit facility led by NatWest, is the largest debt investment dedicated entirely to an FTTH rollout in Ireland. Ulster Bank, NatWest, HSBC, BNP Paribas and Royal Bank of Canada comprise the bank syndicate providing the funing.
The proceeds will be used to accelerate the company’s business plan to connect 450,000 homes and businesses to a full fibre one gigabit (1,000 megabits) service.
