STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today announces that they have signed a EUR 130 million loan agreement with the Nordic Investment Bank (NIB) for the expansion of the company’s 4G mobile network service during 2015–2018.
The purpose of seeking additional funding from NIB is to extend the maturity profile and achieve further diversification of funding. Tele2 Group Treasury has negotiated a new loan from NIB of EUR 130 million. This will include a cancellation of the existing loan from NIB (EUR 74 million) so new proceeds will be roughly EUR 56 million. The loan will be granted for the purpose of financing Tele2’s investments into LTE/4G networks in Sweden and the Netherlands in the time period 2015 - 2018.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
Tele2 and NIB have a relationship that spans over more than 20 years. This is the fourth loan agreement between the parties and the first one was issued already in 1994.
NIB only finances specific investment projects that fulfil the Bank’s mission which is to improve competitiveness and the environment of the Nordic-Baltic region.
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