BT Group is the UK’s leading fixed and mobile communications provider¹, supporting the nation with unmatched expertise in managing essential national infrastructure.

Within the Group, the Openreach business is building the UK’s largest full fibre broadband network, and autonomously runs BT’s fixed access network infrastructure, connecting millions of UK homes, businesses, government sites and mobile masts. With 99,000 employees and a fleet of 41,000 vehicles, it makes about 9.5 million customer visits annually to maintain the legacy copper phone line network and roll-out its full fibre broadband replacement.

NatWest’s Specialist Asset Finance team continues to be one of a select panel of funders for BT with the required capabilities and expertise to fund the company’s growing fleet which it aims to move to electric or zero-emission vehicles by 2031.  

As part of these ambitious plans to reduce the environmental impact of its fleet, BT and NatWest agreed an uncommitted bilateral Fleet Funding Facility of £165 million in July. The NatWest deal team worked closely with BT and the company’s agent to carefully structure the complex deals with a clearly defined process for ordering new vehicles, their financing, their maintenance, and their ultimate disposal.

Andrew Binnie, Group Treasury Director at BT, commented: “NatWest is a valued partner supporting BT to meet our purpose of connecting for good. The fleet financing enables engineers to connect and maintain our network throughout the UK and to transition to using Electric Vehicles”.

Source: broadband.co.uk / confused.com / rootmetrics.com