On December 18th, 2018, CityFibre put in place a debt package totalling £1.12b GBP . This will be used to fund the first portion of their £2.5bn investment plan, which will see the delivery of full fibre internet connections to around five million UK homes.
The package includes a £775m capex facility, £45m overdraft and working facility and a £300m accordion option, to be used for the deployment of full fibre to two million homes and expand the existing networks in 37 cities.
In what is the largest debt financing package for full fibre rollouts in the UK’s history, Operis were pleased to provide a full model audit and a review of the tax and accounting treatment on CityFibre’s behalf.
