Chilean incumbent Entel has secured a US$400m loan from a group of banks led by Bank of Tokyo-Mitsubishi.
Other banks in the syndicate include Mizuho, HSBC and Scotiabank.
Entel will start to repay the debt in 2015, with an annual interest rate in…
Chilean incumbent Entel has secured a US$400m loan from a group of banks led by Bank of Tokyo-Mitsubishi.
Other banks in the syndicate include Mizuho, HSBC and Scotiabank.
Entel will start to repay the debt in 2015, with an annual interest rate in dollars of 1.98% for the first period, including spreads, commissions and placement costs.
Most of the proceeds will be used to prepay US$340m in loans and amortizations for 2013 and 2014, including the second tranche of an international syndicated loan for US$600m as well as others issued by local banks.
Furthermore, funds will be used to finance new investments.
“This transaction demonstrates the financial community’s solid backing of Entel,” commented Felipe Ureta, CFO of the Santiago-based operator.
The once state-owned telco offers wireless, fixed-line, internet services and digital television.
