1 Oct 2012

NIB to finance mobile network upgrade in Norway

Telecom tower

NIB has signed a loan agreement totalling EUR 74 million with mobile operator Tele2 AB for complementary financing of its mobile network expansion in Norway.

The 8-year-maturity loan is earmarked to expand the Tele2 mobile network in Norway. Tele2’s investment in the mobile network infrastructure will increase capacity and help it grow its market share.

“NIB’s loan to Tele2 is expected to enhance competition in Norway’s mobile phone and broadband services market,” says Henrik Normann, NIB President and CEO.

Stockholm-based Tele2 is the third largest mobile operator in Norway with about 1.2 million customers. Tele2 operates in 11 countries in Europe, Russia and Kazakhstan, offering mobile services, fixed broadband and telephony, data network services, cable TV and content services.

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 5623604,

Arild Moen, Senior Communications Officer, tel. +358 10 618 0496,