Telemar Norte Leste S.A.
| Date: | 01 Jul 2008 |
|---|---|
| Country: | Brazil |
| Customer: | Telemar Norte Leste S.A. |
| Amount in USD: | USD 100 million |
| Amount in EUR: | EUR 63.4 million |
| Maturity: | 10 years |
| Business sector: | Project & Structured Finance |
Project
The A/B loan has been provided for financing the expansion of the company’s 2G and 3G mobile networks in the São Paulo region of Brazil. Oi has concluded contracts with Nokia Siemens Networks for the supply of telecom infrastructure equipment.
The Oi Group is Brazil’s largest provider of fixed-line telecommunication services with more than 14 million subscribers (2007). The company also has 16 million mobile telecom subscribers and 1.5 million data services customers.
NIB’s A loan would amount to USD 100 million with a 10-year tenor and the B loan to USD 150 million with a 7-year tenor. The B loan will be fully underwritten by BNP Paribas and Banco Bilbao Vizcaya Argentaria.
Sustainability summary
The extension and capacity increase of the existing telecommunications networks in urban and rural areas, including the instalment of base-stations and transmitting towers, will have insignificant environmental impacts.
