MILAN- Italian broadband network operator Open Fiber said it had expanded a project financing package with banks to more than 4.1 billion euros ($4.9 billion) to fund its new business plan.
The new agreement added 675 million euros to a 2018 package agreed with BNP Paribas, Société Générale and UniCredit, it said in a statement on Thursday.
The network operator, controlled by Italian utility Enel and state lender CDP, said it was the largest credit facility structured finance operation in Europe for the development of a fiber optic network.
Open Fiber has already rolled out fiber-to-the-home to 9 million households and aims to reach about 20 million by the end of 2023.
($1 = 0.8445 euros)
(Reporting by Stephen Jewkes, editing by Maria Pia Quaglia) ((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))
