All agreed loans

Brazil. Empresa Brasileira de Telecomunicações S.A.

Date of loan: 13 Mar 2009
Country: Brazil
Customer: Empresa Brasileira de Telecomunicações S.A.
Amount in USD: USD 50 million
Amount in EUR: EUR 38.7 million
Maturity: 5 years
NACE sector / loan type: Post and telecommunications, A/B loan
Business area: Infrastructure, transportation and telecom

Project

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.

Sustainability summary

The environmental impacts that the project is expected to have are likely to be insignificant.