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Polski Światłowód Otwarty completes a PLN 5.1 billion financing to fund its network upgrade and roll-out programs in Poland

Polski Światłowód Otwarty (PŚO), the largest wholesale-only operator in Poland with coverage of over 3.7 million homes passed, successfully completed a new financing to fund the upgrade of its network to fiber-to-the-home (“FTTH”) as well as further expansion of the FTTH network to cover 6 million households in Poland.

The financing package consists of up to 7-year facilities totaling PLN 5.125 bn, executed on competitive terms with a group of Polish and international banks alongside the European Investment Bank. Norton Rose Fulbright acted as legal counsel advising PŚO on this transaction while Allen & Overy advised the Lenders.

Jarosław Wojciechowski-Boruta, CFO of PŚO, commented: “We are very pleased with this financing which will enable PŚO to upgrade its network and capture the demand also in underserved areas. We would like to thank the European Investment Bank, as well as our group of Arrangers and Underwriters, BNP Paribas Bank Polska S.A., Crédit Agricole Corporate & Investment Bank, Crédit Agricole Bank Polska S.A., KfW IPEX-Bank GmbH, Santander Bank Polska S.A. and Société Générale and our relationship lenders who took part in the syndication, including Bank Gospodarstwa Krajowego, Bank Polska Kasa Opieki S.A. and Powszechna Kasa Oszczędności Bank Polski S.A.”.

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