The Nordic Investment Bank (NIB) and the Finnish telecommunications company Elisa Corporation have signed a new loan agreement totalling EUR 50 million. The maturity of the bullet loan is seven years. The financing is earmarked for the expansion of the company's 3G and broadband networks.
A significant part of Elisa's investments co-financed with the loan from NIB are aimed at increasing the coverage, speed and capacity of its mobile broadband networks particularly in Finland's rural areas. Elisa's network covers over 90% of the population and the 3G coverage.
"NIB's loan to Elisa facilitates further upgrade of the communications infrastructure in Finland. These investments are essential for the country's competitiveness and the borrower's ability to maintain its technological leadership," says Johnny Åkerholm, NIB President and CEO.
Elisa is a telecommunications and ICT service company servicing approximately 2.2 million consumers, companies and public administration organisations.
The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Kim Krokfors, Senior Manager Origination, at +358 10 618 0517, kim.krokfors@nib.int (mailto:kim.krokfors@nib.int)
Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296, dimitrijs.alehins@nib.int (mailto:dimitrijs.alehins@nib.int)
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Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
