Spanish incumbent Telefonica has sealed a €200m (US$258m) working capital facility with Canada’s export credit agency to buy products from Ontario-based BlackBerry.
Export Development Canada (EDC) is providing the credit line.
“EDC’s financing is…
Spanish incumbent Telefonica has sealed a €200m (US$258m) working capital facility with Canada’s export credit agency to buy products from Ontario-based BlackBerry.
Export Development Canada (EDC) is providing the credit line.
“EDC’s financing is really about making the transactions between BlackBerry and Telefonica easier, helping to enhance and broaden the relationship between these two major global players,” said Lewis Megaw, EDC’s VP for EMEA.
The credit agency has provided financing to Telefonica since 2006.
Telefonica last secured vendor financing from Swedish export credit agencies in early March when it agreed a US$1bn facility to buy equipment from Ericsson.
In September 2012 the Madrid-based operator signed a US$1.2bn credit facility with China Development Bank (CDB) and Industrial and Commercial Bank of China to purchase products, although the operator did not disclose the companies it planned to buy from.
