Cosmote Romania, a unit of Greek telco OTE, has secured a €225m loan arranged by the European Bank for Reconstruction and Development (ERBD) to develop its broadband infrastructure.
Cosmote will receive €75m from the ERBD directly and the remaining…
Cosmote Romania, a unit of Greek telco OTE, has secured a €225m loan arranged by the European Bank for Reconstruction and Development (ERBD) to develop its broadband infrastructure.
Cosmote will receive €75m from the ERBD directly and the remaining €150m as a syndicated loan from commercial banks, OTE said in a statement.
MLAs on the syndicated loan are ING Bank and Societe Generale, lead arrangers are Erste Group Bank and Eurobank Private Bank and arrangers are Citibank, NBG Bank Malta and Raiffeisen Bank International, Cosmote said in its own statement.
The loan matures in April 2018.
Cosmote will use the proceeds to expand its 4G network and renew spectrum licences.
OTE chairman and CEO Michael Tsamaz said the loan agreement forms part of the Greek incumbent’s “multilayered” refinancing strategy.
Cosmote is Romania’s third largest mobile operator after Orange and Vodafone. Cosmote claimed to have 6.3 million customers at the end of 2012. It reported revenues of €462.8m for FY 2012 and EBITDA of €119.5m.
