Plus   Neg

Telefonica Deutschland Secures EUR 450 Mln Loan From EIB To Finance 5G Network

Telefonica Deutschland Holding AG (TELDF.OB,TFTHF.OB) announced Tuesday that it has secured a loan from the European Investment Bank or EIB of 450 million euros. The company will use the proceeds to finance the rollout of its 5G network and the further densification of its LTE network.

The loan, concluded through Telefonica Deutschland Germany GmbH & Co. OHG, has a term of eight years and further improves Telefonica Deutschland's financing structure.

In December 2019, the company announced the launch of a smart investment program to further improve network quality in order to accelerate its growth profile. Telefonica Deutschland said it will significantly increase its investments in the mobile network in 2020 and 2021 with a focus be on boosting rural coverage primarily with 4G and accelerating urban capacity primarily with 5G.

The basis will be a smart investment profile that foresees the re-farming of spectrum and efficient use of technologies including the envisaged switch-off of our 3G network by the end of 2022.

The company already concluded a syndicated loan amounting to 750 million euros in December 2019, with the interest margin linked to an external sustainability rating.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Brazos Electric Power Cooperative Inc., the largest power generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection citing a huge bill from the state's grid operator following major outages recently amid the winter storm. Brazos received a $1.8 billion bill from electricity grid operator Electric Reliability Council of Texas or ERCOT. El Abuelito Cheese is recalling certain types of cheese and cheese products for fear of potential contamination with Listeria Monocytogenes, a deadly bacteria, the U.S. Food & Drug Administration said in a statement. The recall involves Queso Fresco (Fresh, soft cheese), Quesillo (Oaxaca, string cheese), and Requeson (Ricotta) products. Technology company CAE Inc. (CAE.TO, CAE) agreed Monday to acquire the military training division of aerospace and defense technology firm L3Harris Technologies Inc. (LHX) for $1.05 billion, subject to customary adjustments. The acquisition will expand CAE's position as a platform-agnostic training...
Follow RTT