United Fiber secures financing from Eurobank, National Bank of Greece and the Recovery and Resilience Facility “Greece 2.0”

• United Fiber, subsidiary of United Group which also owns Nova SA, has completed the signature of a €95 million bond loan agreement with Eurobank and the National Bank of Greece under the National Recovery and Resilience Plan “Greece 2.0”.
• Through this agreement, United Fiber will accelerate its Fiber To The Home (FTTH) deployment, with the next milestone of 830 thousand homes achieved by 2025-year end.

United Fiber (UF), 100% subsidiary of United Group, the leading telecommunications and media provider in South - East Europe which also owns Nova SA, has completed the conclusion of a loan agreement, co – organized by Eurobank and National Bank of Greece, with Eurobank also acting as Bondholder Representative and coordinator of the financing contractual texts. The loan agreement secures the raising of €95 million in the context of the National Recovery and Resilience Plan “Greece 2.0.”, with funding from the European Union – NextGenerationEU.

The loan agreement, which confirms the significance of United Fiber’s infrastructure plan for the country, was signed at Eurobank Headquarters in Athens, in the presence of the Commander of the Special Coordination Service for Recovery and Resilience Facility (RRF), Mr. Orestis Kavalakis, Eurobank’s Deputy CEO and Head of Corporate & Investment Banking, Mr. Konstantinos Vassiliou, the General Manager of Corporate and Investment Banking of the National Bank, Mr. Vassilis Karamouzis, the CEO of Nova and BoD member of United Fiber, Mr. George Lamprou and the CEO of United Fiber, Mr. George Angelousis.

The loan has an 8.5-year maturity following a previous loan of €79.3 million, that was also granted under the framework of National Recovery and Resilience Plan, for the first phase of the company's investment in the deployment of Fiber To The Home (FTTH) network. United Fiber, which focuses in developing next-generation networks, will use the resources of the new loan agreement to execute a €166.1 million FTTH project. From this amount, €59.4 million will be funded by the Recovery and Resilience Fund (RRF) and 35.6 million will be equally funded by Eurobank and National Bank of Greece. The remaining €71 million will be covered by United Fiber's own funds.

United Fiber is the 2nd largest FTTH network provider in Greece deploying fiber at a very fast pace. By 2024-year end, 540 thousand houses and companies had already been deployed, with the next milestone being the deployment of 830 thousand houses and companies by the end of 2025. The funds will further support United Fiber's extensive investment plan for the deployment of next generation networks, contributing to the National Plan for the country's recovery and its digital transformation, while reaffirming the potential of the company’s business plan and providing funds to swap copper-based technologies to FTTH, thus boosting Greece’s transition to the Gigabit society.

Through this investment, United Fiber is actively contributing to the upgrading of Greece's infrastructure, the green transition and the development of digital technologies within the framework of United Group's €2 billion investment program for the country until 2027, of which more than €870 million had already been invested by the end of December 2024.

Commander of the Special Coordination Service for Recovery and Resilience Facility, Mr. Orestis Kavalakis, noted: "The implementation of another major investment in digital technologies and next-generation networks is being launched with the support of the RRF loan facility. United Fiber is expanding its investment plan to develop a fiber-to-the-home (FTTH) network and create modern infrastructure, with additional funding of €59.4 million from the RRF. The RRF's low-interest investment loan program plays a key role in Greece’s digital transformation, supporting investments that expand access to technology for more of the country’s households and businesses.".

Eurobank's Deputy CEO and Head of Corporate & Investment Banking, Mr. Konstantinos Vassiliou, stated: “The closing of the transaction with United Fiber, a subsidiary of one of the leading groups in the telecommunications sector, further promotes the country’s goal towards digital transformation through the development of next-generation networks that provide reliable and high-speed connectivity, meeting the increasing demand of businesses and households. This transaction proves Eurobank’s strategic and ongoing commitment in supporting innovative projects that accelerate the transition to the digital era while fortifying the national infrastructure to overcome future challenges. I would like to thank the teams of Recovery and Resilience Facility, United Fiber, National Bank of Greece, as well as those of our Bank, for their exceptional dedication and effective collaboration in concluding this successful transaction.”.

General Manager of Corporate & Investment Banking at National Bank, Mr. Vassilis Karamouzis, noted: "National Bank of Greece (NBG) is truly pleased to contribute to the expansion of United Fiber’s next-generation network. This new financing clearly demonstrates our support for the successful efforts of United Group’s management to date, and it also represents an important milestone in the realization of investments that further promote the digital transition of our country. In an environment driven by rapid technological advancements, NBG’s central role in implementing sector investments is essential. NBG continues to serve as a strategic financial pillar for both Greek and foreign investors. Congratulations to all parties involved who have successfully completed yet another financing agreement for digital infrastructure, mobilizing the necessary resources from the Recovery and Resilience Fund.”.

Nova’s CEO and BoD member of United Fiber, Mr. George Lamprou, noted: "Building networks is at the core of our DNA and we are proud that we have deployed fiber to more than 540,000 homes. Our business plan is helping Greece to meet its digital infrastructure objectives as part of the EU agenda for 2030. We are honored that our plan has been endorsed from the Recovery and Resilience Plan, as well as from the two systemic banks. This financing not only guarantees the delivery of our fiber network rollout plan, but it gives us the vote of confidence to continue investing in next generation network infrastructure."._