FiberCop has swiftly doubled its bond issue from €1.4 billion to €2.8 billion within just two days, driven by overwhelming investor interest. The Italian fibre infrastructure company, recently separated from telecom giant TIM, initially launched the bond offering on a Monday. By Wednesday, it had increased the size due to subscriptions exceeding €6 billion, according to reports by Key4Biz.
The company expressed satisfaction with investor confidence. “We are pleased with the strong market support recognising the strength of our business and mission,” said André Rogowski, FiberCop’s Chief Financial Officer. He emphasized that the funds will help maintain progress on the company’s broadband rollout across Italy. Rogowski also highlighted that the company’s credit ratings were recently reaffirmed by all three major agencies, reflecting confidence in its growth strategy.
FiberCop confirmed that the raised capital would bolster its balance sheet and be allocated for general corporate purposes, including infrastructure investment and debt refinancing. Last year, it spent €2.4 billion in capital expenditure, with more than half of that in the latter part of the year as it ramped up its post-separation deployment strategy.
As of the end of 2024, FiberCop had installed fibre-to-the-home for 12.2 million premises, marking a 2 million increase in one year. This places the company at about 60% completion of its three-year rollout target. The firm also noted it is on track to meet deadlines under Italy’s National Recovery and Resilience Plan (NRRP).
