EQT and Omers Boost Deutsche Glasfaser Funding to 5bn Euros
EQT and Omers will increase their investment in Deutsche Glasfaser to nearly 5 billion euros. The move follows a search for new backers for the German firm.
The investment group EQT AB from Sweden and the pension fund Omers from Canada have offered to increase their investment in the broadband provider Deutsche Glasfaser to nearly 5 billion euros ($5.89 billion), according to reports from the Financial Times. The move aims to bolster the financial standing of the provider as it manages significant infrastructure projects. Although EQT AB, Omers, and Deutsche Glasfaser did not immediately respond to requests for comment, the additional funding is expected to support the company's expansion efforts.
The investors, who have already committed 4 billion euros to the company, are expected to add around 850 million euros in preferred equity. Furthermore, lenders are set to inject 400 million euros of new super-senior debt. This additional funding arrives as the company, based in Germany, carries a gross debt of more than 7 billion euros.
