United Fiber has signed a financing agreement totaling €95 million with Eurobank and National Bank within the framework of the National Recovery and Resilience Plan “Greece 2.0”. Through the agreement, United Fiber will accelerate the deployment of its fiber-to-the-home network, aiming to reach 830,000 homes by the end of 2025.
United Fiber has secured a loan agreement with co-organizers Eurobank and National Bank of Greece. Eurobank is also serving as Bondholder Representative and coordinator of the contractual financing documents. The funds, totaling €95 million, are provided within the framework of the National Recovery and Resilience Plan “Greece 2.0”, with funding from the European Union – NextGenerationEU.
The loan agreement ceremony was held at Eurobank Headquarters in Athens, attended by the Governor of the Special Coordination Service of the Recovery Fund, Orestis Kavalakis, Deputy CEO and Head of Corporate & Investment Banking of Eurobank, Konstantinos Vassiliou, General Manager of Corporate and Investment Banking of National Bank, Vassilis Karamouzis, CEO of Nova and United Fiber Board Member, George Lambrou, and CEO of United Fiber, George Angelousis.
The new loan has a duration of 8.5 years and follows a previous loan of €79.3 million, also granted under “Greece 2.0”, for the first phase of United Fiber’s fiber optic network investment. The company will use the new funding to support a €166.1 million FTTH project. The financing breakdown includes €59.4 million from the Recovery and Resilience Fund (TRF), €35.6 million from Eurobank and National Bank in equal amounts, and €71 million from United Fiber’s own funds.
Orestis Kavalakis, Governor, Special Coordination Service, Recovery Fund
The implementation of another significant investment in digital technologies and next-generation networks begins with the support of the Recovery Fund’s loan resources. United Fiber is expanding its fiber optic network for homes and businesses with additional financing of €59.4 million from the Fund. The Recovery Fund’s low-interest investment loan program plays a decisive role in Greece’s digital transformation, supporting investments that expand access to technology for more households and businesses.
Konstantinos Vassiliou, Deputy CEO; Head,Corporate & Investment Banking, Eurobank
Today’s financing agreement with United Fiber, a subsidiary of one of the leading telecommunications groups, advances Greece’s digital transformation through new-generation networks that offer fast and reliable high-speed connectivity. This financing reflects our strategy to support innovative projects that accelerate the transition to the digital era and strengthen the country’s infrastructure. I want to thank the teams at the Recovery and Resilience Fund, United Fiber, National Bank, and Eurobank for their excellent cooperation.
George Lambrou, Board Member, United Fiber
Networking is at the core of our DNA, and we are proud to have already deployed fiber to more than 540,000 homes. Our business plan supports Greece’s digital infrastructure goals under the EU’s 2030 agenda. We are honored to have our plan approved by the National Recovery and Resilience Plan and two systemic banks. This financing guarantees the execution of our fiber network expansion while reinforcing our commitment to investing in next-generation infrastructure.