The BTP Impact Local fund and Caisse d’Epargne Rhône-Alpes join forces to finance the deployment of very high-speed broadband in the department of Savoy

Mirova, a subsidiary of Natixis Asset Management dedicated to socially responsible investment, announces that BTP IL, closed-end fund which hit final close in September 2016, contributed to the project to design, build and operate the second-generation, very high-speed public broadband network for the Department of Savoy. The Public Service Delegation contract, signed on 27 July 2016 for a term of 25 years, will give households and companies access to the best fibre optic services offered by national and local operators. Nearly 74,000 FTTH (Fiber To the Home) connections are planned to be deployed on a firm basis, as well as an additional lot upon conditions.

THD73, a project company created on this occasion, counts among its shareholders leading industry players and financial backers of community digital development: the BTP IL fund (55%), Axione and Bouygues Énergies & Services (15%), and Caisse des Dépôts (30%). In addition, THD73 has been granted with credit facilities arranged and underwritten by Caisse d’Epargne Rhône-Alpes, which also serves as Placement Agent and Custodian.

“This is the second investment completed by BTP IL in the very high-speed broadband sector, following on from the Aisne THD project. This undertaking will allow fibre optic to be rolled out in all the less densely populated areas of the Department of Savoie,” explained Guillaume Faroux, Director of the BTP IL fund, before adding: “The stakes are high and will have a great deal of impact on the economic competitiveness, social cohesion, and quality of life for the department.”

Gwenola Chambon, Head of General Infrastructure Funds at Mirova, also reacted: “The BTP IL fund is an investment tool dedicated to responsible and local public infrastructure projects, serving SMEs in France, and the THD73 project fits perfectly into our strategy. We are especially pleased to have achieved our first joint investment with our long-standing partner Caisse d’Epargne Rhône Alpes.”

Catherine Grandjean, Director of Structured Finance at Caisse d’Epargne Rhône Alpes, stated: “Caisse d’Epargne Rhône Alpes is actively involved in financing major regional infrastructure projects. Given the benefits underlying the fibre optic network deployment across the department, it was important for us to arrange the debt to support such a project. Working on this project alongside the BTP IL fund, of which Caisse d’Epargne Rhône Alpes is a unit holder, makes it even more satisfying.”