16 December 2021
Maanch has advised euNetworks on its recently completed sustainability-linked infrastructure financing, working with the company on social and environmental performance indicators as part of the transaction. Maanch used its proprietary Net Societal Impact system to help prepare euNetworks for the process.
euNetworks builds and invests in city and long haul fibre networks to connect key data centres and data centre hubs across Europe for its customers. The company operates these deep fibre networks in 17 cities and a highly differentiated long haul network that spans 17 countries.
The long term financing solution provides total debt facilities of EUR760 million which will be applied to refinance the existing indebtedness of euNetworks and to fund the construction and development of the next generation of critical bandwidth infrastructure in Europe. The new financing arrangements, supported by 16 commercial banks and institutional debt providers, incorporate a number of sustainability linked features, including key social and environmental performance targets that reflect euNetworks’ ESG agenda.
“We are delighted that this debt raise provided an opportunity to embed our commitment to sustainability through the inclusion of ESG-linked KPIs and thank Maanch for their work in preparing us for that part of the process,” said Brady Rafuse, Chief Executive Officer of euNetworks.
Commenting on the transaction, Chief Impact Officer Sianne Haldane said: “It has been a pleasure to support euNetworks on this transaction, which will play an important role in supporting their future business plans and their commitment as a business to sustainability. This transaction is a great indicator of the appetite in the institutional markets to drive the sustainability agenda.”
The Maanch team was led by Chief Impact Officer, Sianne Haldane. Sianne specialises in innovative sustainable solutions and has recently published an article on How Sustainable Finance and Debt can accelerate action towards the Sustainable Development Goals.
Maanch is a high growth certified B-Corp providing Impact Data Management Systems for Investors, Corporates and the Philanthropy ecosystem, bringing to market globally scalable solutions that address the rising demand for impact/ESG data.
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