Rautenberg & Company advises Intermediate Capital Group (ICG) and its portfolio company TNG Group on its refinancing.
Our team advised Intermediate Capital Group (ICG) on the EUR 325 million refinancing of TNG Group to support further growth plans. The financing can be extended by a further EUR 150 million. In December 2020, we have already advised ICG on its acquisition of TNG Group.
Intermediate Capital Group (ICG) is a global alternative asset manager with over 30 years' history and manages USD 68.5 billion of assets, credit and equity, principally in closed-end funds. The firm provides capital to help companies grow through private and public markets, developing long-term relationships with its business partners to deliver value for shareholders, clients and employees. ICG operates across four asset classes – Structured and Private Equity, Private Debt, Real Assets, and Credit.
TNG Group has grown to a strong regional FTTH platform in the North of Germany since its creation in 1997, providing internet connectivity to more than 90,000 contracted private and business customers. TNG has established a strong position in the Northern German telecommunication market as the leading, independent city carrier in Kiel. In 2013, the company entered the rural FTTH market and has expanded its network footprint on both own and leased networks significantly since then. TNG has developed a strong FTTH track record on the back of a highly vertically integrated business model, including own fibre planning and construction activities, and provides customers with fast and reliable fibre connectivity and telecommunication solutions.
Our team supported ICG and TNG Group in the refinancing process with an integrated Commercial and Technical Due Diligence.
Quick Facts
Date
- December 2022
Intermediate Capital Group (ICG)
- Global alternative asset manager
- USD 68.5bn assets under management (Dec. 2022)
TNG Group
- Regional provider of modern and reliable telecommunications
- Vertically integrated model and strong FTTH track record with 60,000 homes connected
- Plans to connect 500,000 homes in the coming years
- 300 employees across three locations in Germany
Financing
- EUR 325m
Services
- Commercial and Technical Due Diligence
Team
- Boris Herzog, Partner
- Sebastian Morck, Director
- Kirill Schelkunov, Manager
- Sven Linde, Associate
- Jan Mackenstedt, Associate