3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||13 Mar 2009|
|Customer:||Empresa Brasileira de Telecomunicações S.A.|
|Amount in USD:||USD 50 million|
|Amount in EUR:||EUR 38.7 million|
|NACE sector / loan type:||Post and telecommunications, A/B loan|
|Business area:||Infrastructure, transportation and telecom|
The A/B loan has been provided for financing Embratel's expansion of its wireless broadband and telecommunications infrastructure in Brazil, including supplies of state-of-the-art telecom network technology from Nokia Siemens Network.
NIB's A Loan amounts to USD 50 million with a 5-year tenor. The B Loan would be underwritten in the amount of USD 150 million with a 5-year tenor by the commercial banks Société Générale, Santander, Nordea, Natixis, Calyon and BBVA.
With a more than 26% market share in Brazil, a growth market of 190 million consumers in fixed telephony, data transfer and internet services combined, Embratel is one of the largest telecom operators in Latin America. Embratel is at the absolute forefront when it comes to introducing new technologies to the Brazilian market. For Nordic telecom equipment manufacturers, Embratel is of strategic relevance in terms of R&D and product development. By taking part in the financing, NIB is strengthening the Nordic suppliers' international competitiveness.
The environmental impacts that the project is expected to have are likely to be insignificant.