Open Fiber goes ahead with €3.5bn project financing

Open Fiber has approved the €3.5 billion ($4.32 billion) seven-year project financing that it mandated last year to back its broadband roll-out in Italy. The syndicated loan is likely to be finalised in the coming months. BNP Paribas, Societe Generale and UniCredit, which have already provided a €510 million 15-month bridge loan, are lead arranging the deal which is expected to include backing from the EIB.