A syndicate of international banks is putting together a €330m financing package for alternative telecoms operator GTS Central Europe.
The package was revealed in a statement by the European Bank for Reconstruction and Development (EBRD), which is…
A syndicate of international banks is putting together a €330m financing package for alternative telecoms operator GTS Central Europe.
The package was revealed in a statement by the European Bank for Reconstruction and Development (EBRD), which is set to provide a long-term loan of up to €50m as part of the overall amount.
The money will be used to help fund GTSCE’s development in Hungary, Poland, Romania and Slovakia.
The EBRD said the loan is designed to support growth and innovation in the telecoms sector. It will enable GTS, whose regional network infrastructure covers the abovementioned countries and the Czech Republic, to increase its network coverage and quality as well as its range of services region-wide.
The €330m in senior secured facilities consists of €290m in term loans, part of a balance sheet restructuring intended to free up cash for capital investment, and a €40m acquisition/capex facility.
The decision to grant the loan is pending a final review set for 27 March.