This is the sixth loan granted to Iliad by the European Investment Bank – a total of over €1.4 billion
Iliad will use the latest loan of €300 million from the European Investment Bank (EIC) to take fibre into less densely populated and rural areas. The EIB describes Iliad as France’s main alternative fibre network provider.
In this tough economic climate, the EIB loan is a boon: the bank says its triple-A rating means, “this loan comes with very attractive financial terms and a long maturity of up to six years, which is particularly suited to the length and nature of the investments.”
In a statement the EIB said that the loan, “strengthens digital transformation, competitiveness and innovation across the French regions and supports both French and European connectivity objectives, which aim to provide every household with access to ultra-fast broadband by 2025”.
Grand total
The new loan brings the total amount of financing provided to Iliad by the EIB to more than €1.4 billion since 2009. Earlier this month, the bank loan Polish mobile operator Play, owned by the Iliad Group, PLN 470 million (€100.2 million) to “strengthen its ultra-fast mobile network”.
Iliad Group became Europe’s sixth-largest mobile operator in November 2022 by subscribers, excluding M2M, with more than 45 million subscribers.
Every year in France, Iliad Group invests an average of more than 30% of its revenues in expanding its network; an investment of more than €7.6 billion over the last five years. It Group has 7 million fixed-line subscribers in France, including more than 4.5 million fibre subscribers and more than 30 million connectible sockets.
Clearly a fan
“With this new loan, the EIB is renewing its support for a very loyal partner that has established itself as a leading player in the rollout of fixed and mobile networks across France and Europe,” enthused EIB Vice-President Ambroise Fayolle.
“This new investment will enable this European champion to accelerate its roll-out of fibre and strengthen connectivity infrastructure, which has become just as essential as water and electricity supply networks…As a public bank providing long-term financing for major European projects, it is our role to make an active contribution in this area.”