Signing of a loan agreement to raise capital 80 million in its context National Recovery and Resilience Plan "Greece 2.0"
H Hellenic Open Fiber (HOF), its subsidiary company Nova-Wind, member of United Group, the leading telecommunications and media provider in Southeast Europe, draws capital, amounting to 80 million euros, in the framework of the National Recovery and Resilience Plan, "Greece 2.0", with its funding European Union – NextGenerationEU, through a loan agreement, which he signed on Monday, July 25, with the banks Eurobank and National.
The signing of the loan agreement took place in the presence of the person responsible for the implementation of the "Greece 2.0", Deputy Minister of Finance, Mr. Thodorou Skylakakis, the Commander of the Special Coordination Service of the Recovery Fund, Mr. Nikos Mantzoufas, the CEO of Nova-Wind, Mr. Panagiotis Georgiopoulos, the Deputy CEO and Head of Corporate & Investment Banking of Eurobank, Mr. Konstantinou Vassiliou and the General Manager of Corporate and Investment Banking of National Bank, Mr. Vassilis Karamouzis.
The loan has a duration of 10 years and will finance an investment project, totaling 100 million. In particular, the HOF, which aims to develop next-generation networks, will use the loan agreement's resources to accelerate the creation of fiber optic networks to the home (Fiber to the Home), nationwide. Of the 80 million euros that will be received by Hellenic Open Fiber, a subsidiary of Nova-Wind, the 50 million euros come from the Recovery and Resilience Fund and the 30 million euros from the banks Eurobank and National Bank of Greece (at a rate of 70% and 30% respectively). The remaining 20 million euros, required for the implementation of the investment plan, will be covered by the company's own funds HOF.
H Hellenic Open Fiber is first company with a field of action in the field of digital investments, which applied for a loan agreement with the Recovery Fund, in February 2022. The resources will ensure additional liquidity of an extensive investment action plan of Nova – WIND for development of digital technologies and new generation networks, highlighting the company as strategic partner of the National Plan for the recovery and digital transformation of the country, while at the same time they will give impetus to the green transition and the development of the Greek region.
All of her investments Nova-Wind for new generation technologies is going to exceed 1,3 billion euros, until 2026 and mainly concerns the expansion of the optical fiber network at home (FTTH) and in the national coverage of the 5G network, changing the fixed, mobile and internet market and, at the same time, upgrading the television experience of its customers through its content EON – the leading pay TV platform in South East Europe.
The Deputy Minister of Finance, Mr. Thodoros Skylakakis, said:
The Commander of the Special Coordination Service of the Recovery Fund, Mr. Nikos Mantzoufas, pointed out:
The CEO of Nova-Wind, Mr. Panagiotis Georgiopoulos, noted:
For his part, the Deputy CEO and Head of Corporate & Investment Banking of Eurobank, K. Konstantinos Vassiliou, said:
At Eurobank, we feel particularly happy and honored for our role in the project, which is the largest financing by a Greek commercial bank to date within the framework of TAA, participating with a percentage of 70% of the bank financing scheme of the investment. The above highlights our strategic priority to offer integrated solutions to our clients, so that they can make the most of the important funds of the "Greece 2.0" Plan, through sound and sustainable investment plans.
Ο General Manager of Corporate & Investment Banking of Ethniki, Mr. Vassilis Karamouzis, pointed out:
With the cooperation of our specialized Infrastructure & Networks financing unit Structured Financing and our mandated unit "National 2.0” for the inclusion of investments in the Recovery & Resilience Fund, 50% of the above financial package will come from the mobilization of the Fund's resources. The transaction is a "model transaction" for the Fund's Digital Transition pillar, highlighting the role of the National Bank in the implementation of the National Recovery Plan.
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