Swedish vendor Ericsson has inked a €150m (US$184.2m) loan with the Nordic Investment Bank (NIB) for research and development.
The loan is split into two equal tranches, one maturing in 2019 and the other maturing in 2021.
Ericsson said the loan will…
Swedish vendor Ericsson has inked a €150m (US$184.2m) loan with the Nordic Investment Bank (NIB) for research and development.
The loan is split into two equal tranches, one maturing in 2019 and the other maturing in 2021.
Ericsson said the loan will be used to aid development of radio and IP technology for mobile broadband at R&D sites in Sweden and Finland. It will refinance some debt maturing in the next two years, extend Ericsson’s debt maturity profile and further diversify funding sources.
“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,” said NIB CEO Henrik Normann.
NIB is the common international financial institution of the eight Nordic and Baltic countries.
