Two subsidiaries of telco True Group, BFKT and Real Future, have signed a Bt48.94bn (US$1.63bn) credit facility for business expansion including 3G rollout, debt refinancing and working capital.
True said that the facility will consist of 10-year term…
Two subsidiaries of telco True Group, BFKT and Real Future, have signed a Bt48.94bn (US$1.63bn) credit facility for business expansion including 3G rollout, debt refinancing and working capital.
True said that the facility will consist of 10-year term loans and “revolving working capital facilities”.
Siam Commercial Bank and Krung Thai Bank acted as lead arrangers. United Overseas Bank and Export-Import Bank of Thailand also joined the financing.
Krung Thai Bank president Apisak Tantivorawong said: “The loans will be used for investment to improve and enhance the effectiveness of the wireless telecommunications business and 3G services in Thailand, allowing the technology to operate with full efficiency and with coverage throughout the country.”
In early February, state-owned CAT and True inked a 3G partnership, meaning that True will continue to be able to offer phone services after the expiration of its 2G licence in 2013.
In mid-July the two companies reportedly received the all-clear by the Office of the Attorney-General for the 3G agreements.
