Rune is securing further financing to support its ambition
Rune has secured €130 million debt facility to support its cross-border FttH project.
The company ambitions to deploy FttH network for 133,000 residential, business and public administration in Croatia and 229,000 homes in Slovenia.
Luxembourg, February, 2021 – Cube Infrastructure Managers’ Connecting Europe Broadband Fund (CEBF) is pleased to announce that Rune, its high-capacity fiber network builder and operator in Croatia and Slovenia, which reached the milestone of 1,000 active customers in its network, has secured a €130 million debt facility with the ambition to support its European ambitions.
In Croatia, RuNe intends to deploy FttH network for 133,000 residential, business and public administration premises in the rural areas of Primorje-Gorski Kotarand Istria regions, the two north-western counties. Rune Slovenia is also to deploy a high-quality FttH network passing through 229,000 homes. Both projects will become the first cross-border open-access FttH network in the EU.
Izzet Guney, Managing Director at Cube Infrastructure Managers, said: “This operation is a real success, and will allow Rune to achieve its ambition. The CEBF will support the company in driving the deployment of high-quality fibre networks, allowing more connectivity both for citizens and for businesses across Europe.”
Stojan Nikolić, CEO of Rune, said: “We are very pleased to have secured this financing. Our goal remains to build cutting-edge fiber infrastructure to allow connectivity in areas that were too often forgotten by telecom operators – Rune is part of the solution. We will, with CEBF’s support, keep expanding our growth and projects.”
Lenders were mandated by Lead Arrangers and include Kommunalkredit Austria AG, Norddeutsche Landesbank Girozentrale, EBRD, Erste Group Bank AG. Nord LB acted as Facility Agent and Security Agent. Advisors on this operation include Rothschild & Co, Linklaters, Analysys Mason, Mazar and Deloitte. CMS acted as counsel for the Lenders.
About Cube Infrastructure Managers:
Founded in 2007, Cube Infrastructure Managers is an independent management company, focusing on investments in the European infrastructure space addressing the essential infrastructure needs of local public authorities and populations, and fully consistent with its ESG commitments. Cube Infrastructure Managers has raised an aggregate €3.7 billion and manages four funds. Cube Infrastructure Fund, Cube Infrastructure Fund II and Cube Infrastructure Fund III are focusing on investments in regulated, brownfield infrastructure and target mainly three strategic markets, Public Transport, Energy Transition and Communication Infrastructure, with a “Buy & Grow” strategy. The Connecting Europe Broadband Fund is a fund dedicated to greenfield investments in broadband infrastructure projects. Since its creation, Cube has successfully made more than 30 investments across Europe, and will continue to invest in profitable and responsible investment opportunities with strong growth potential.
Cube Infrastructure Managers
Caroline Kragerud, Head of Investor Relations
+352 248 734 6874
Agnès Catineau, Nizar Berrada
+33 (0) 1 53 96 83 83
Projects should be referred to CEBF@cubeim.com or +352 248 734 68 00