NIB to finance telecom R&D in Sweden and Finland
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NIB has signed a EUR 150 million loan agreement with the Swedish telecommunications company Ericsson to finance further development of the next generation of mobile phone and broadband technology.
The loan will help finance Ericsson’s research and development investments in the evolution of the next generation mobile broadband technology, enabling operators to make better use of scarce spectrum resources. The research will take place at Ericsson’s R&D sites in Sweden and Finland between 2012 and 2014.
“NIB’s loan will help one of the Nordic region’s top exporters to strengthen its competitive edge, while contributing to the strong telecom R&D knowledge in the region,” says Henrik Normann, NIB President and CEO.
Ericsson is a world-leading provider of mobile network infrastructure, telecom services, and multimedia solutions. Ericsson is a publicly listed company in Stockholm and New York and has customers in 180 countries.
The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Lars Synnes, Senior Manager, Origination, tel. +358 50 562 3604, lars.synnes (at) nib.int
Arild Moen, Senior Communications Specialist, tel. +358 10 618 0496, arild.moen (at) nib.int