TIM Brasil has increased the credit limit of its facility with Brazilian development bank BNDES.
The amendment to the financing agreement increases the limit from R$1.51bn (US$712m) to R$3.97bn (US$1.87bn). TIM said the proceeds from the amendment…
TIM Brasil has increased the credit limit of its facility with Brazilian development bank BNDES.
The amendment to the financing agreement increases the limit from R$1.51bn (US$712m) to R$3.97bn (US$1.87bn). TIM said the proceeds from the amendment amount to R$2.16bn (US$1.02bn).
The facility now also covers TIM’s subsidiary Intelig Telecomunicacoes.
TIM, majority owned by Telecom Italia, is the number two operator in Brazil with 26.81% market share, according to data from Teleco, and has a market cap of US$8.28bn.
