Orrick advises the Finance Parties on the €1.29 billion refinancing of Orange Concessions

Français: Orrick conseille les Parties Financières dans le cadre du refinancement d’Orange Concessions à hauteur de 1,29 milliard d’euros

Orrick advised a consortium of commercial banks, institutional investors and hedging banks on the €1.29 billion refinancing of Orange Concessions, a major wholesale telecom operator of fibre optic infrastructure in France.

Orange Concessions, 50% owned by Orange SA and 50% by Holding d’Infrastructures Numériques (a consortium of La Banque des Territoires (Caisse des Dépôts), CNP Assurances and EDF Invest), operates 23 Public Initiative Networks (PINs) under contract with local authorities in Metropolitan France and overseas territories.

THE IMPACT

• a €1.23 billion term loan;
• a €60 million revolving credit facility; and
• an additional uncommitted incremental facility to support future growth.

The Finance Parties include BayernLB, BBVA, BNP Paribas, Crédit Agricole CIB, ING, MUFG, Natixis, Société Générale, KfW Ipex, La Banque Postale, NordLB, Banco Sabadell, CaixaBank, Mizuho, Allianz Global Investors, Barings, Macquarie Asset Management and Sun Life.

THE TEAM

• Paul Loisel (Partner), Ahmed Boulahcen (Managing Associate), Alexandre Desroches (Managing Associate), Inès Elkhettar (Associate) in connection with the financing aspects;
• Geoffroy Berthon (Partner), Adil Kourtih (Managing Associate), Lek Regjepaj (Associate) in connection with the public law and project contracts aspects; and
• Patrick Tardivy (Partner), Cécile Mariotti (Partner), Maïten Le Brishoual (Senior Associate) in connection with the corporate and tax aspects.