Clifford Chance

Clifford Chance advises the senior lenders on the non-recourse financing of the fibre joint venture "Glaspoort" between KPN and APG

Clifford Chance has advised the senior lenders on the non-recourse financing of the "Glaspoort" joint venture between Royal KPN N.V. (KPN) and APG Asset Management for the roll-out of glass fibre internet networks to approximately 750 000 households and 225 000 businesses in the Netherlands, with a total capex of around EUR 1.2 billion.

Glaspoort is a new network company which will be open for any third-party operator and therefore end-users can select their own preferred internet service provider. While KPN will act as an anchor tenant on the network, the company will pursue an open-access wholesale policy based on non-discriminatory terms, fostering competition and innovation in the Netherlands. For more information, please click here and here.

The Clifford Chance finance team consisted of Titus de Vries, Philip Walsh, Hein Tonnaer and Sebastiaan van Steenbergen, with additional support from Angela McEwan and Georgie Evison. Specialist fibre and construction advice was provided by Liesbeth Buiter, Jaap Tempelman and Lotte de Bruin.