Global law firm Freshfields has advised TNG Glasfaser GmbH, one of the leading companies for the expansion of fibre broadband networks in Germany, on an agreement to secure an additional €175m of debt commitments (accordion facility) under its existing financing package. This new financing supports TNG on its fibre-to-the-home (‘FTTH’) deployment in rural and suburban areas across Germany. The secured debt financing of €175m is in addition to the existing debt financing facilities of €325m signed in November 2022 that included an increase option of €150m. TNG received substantial support from both existing and new lenders, including an institutional investor, National Australia Bank, KfW, and Kommunalkredit, resulting in an oversubscription of the transaction. In addition, TNG receives a further increase option of €100 million. The debt package is complemented by additional equity commitments from ICG Infra, TNG’s majority shareholder. TNG, based in Kiel, was established in 1997 and has since grown into a prominent supra-regional FTTH provider in Germany, with a current reach of over 250,000 homes passed. The ICG Infra team manages c.€3.4bn in Europe and seeks to partner with successful management teams and founders to provide growth capital to mid-market businesses across the energy transition, digital and mobility sectors. The Freshfields team was led by Partner Michael Josenhans and also included Principal Associate Laura Korndörfer and Associate Valentina Niegisch (all Finance, Frankfurt).