United Fiber (UF), a wholly owned subsidiary of United Group and a key player in Greece’s fiber-optic market, has secured a EUR 95 million loan to support its next-generation network expansion.
The financing, arranged by Eurobank and the National Bank of Greece, stems from the country’s National Recovery and Resilience Plan—Greece 2.0—backed by the European Union’s NextGenerationEU initiative. Eurobank also acted as the bondholders’ representative and coordinator of the financing agreements.
The loan agreement was formalized at Eurobank’s headquarters in Athens and attended by high-ranking officials, including Orestis Kavalakis, Commander of the Special Coordination Service for Recovery and Resilience Facility (RRF); Eurobank Deputy CEO, Konstantinos Vassiliou; the National Bank of Greece’s General Manager of Corporate and Investment Banking, Vassilis Karamouzis; Nova CEO and United Fiber board member, George Lamprou; and United Fiber CEO, George Angelousis.
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With a maturity of 8.5 years, the new loan follows EUR 79.3 million in previous financing for the initial phase of United Fiber’s Fiber-to-the-Home (FTTH) deployment.
The company plans to use the funds for a EUR 166.1 million FTTH project. EUR 59.4 million will be sourced from the RRF, EUR 35.6 million will be split equally between Eurobank and the National Bank of Greece, and the remaining EUR 71 million will be covered by United Fiber’s own resources.
United Fiber, Greece’s second-largest FTTH provider, is rapidly expanding its fiber network. By the end of 2024, the company had deployed fiber to 540,000 homes and businesses, with a target of reaching 830,000 by the end of 2025. The new funding will accelerate Greece’s transition to a Gigabit society by replacing copper-based infrastructure with fiber-optic technology.
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As part of United Group’s broader EUR 2 billion investment strategy for Greece through 2027, United Fiber’s expansion aligns with the country’s digital transformation and green transition. By December, 2024, over EUR 870 million had already been invested, reinforcing the company’s commitment to modernizing Greece’s digital infrastructure.
