Netcity gets project debt refi

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Romanian fibre-optic operator Netcity Telecom has secured a long-term €55m club loan to refinance the debt for its underground telecom network project in Bucharest.

The refinancing was provided by Banca Comerciala Romana (BCR) and Societe Generale's Romanian branch, BRD Groupe Societe Generale, as mandated lead arrangers, alongside Erste Group Bank as facility agent. BCR was documentation and guarantee agent. Netcity's project under development spans 1,760km of underground network and it is backed by the company's 50:50 owners, French investor Meridiam and local infrastructure group E-INFRA.