Vivo approves USD360 million EIB loan for network expansion

29 Oct 2007

Brazil’s leading mobile operator by subscribers, Vivo, has accepted a USD360 million loan from the European Investment Bank (EIB) to help expand and upgrade its existing CDMA network and build a GSM overlay, writes BNamericas citing a Vivo filing with the local securities regulator CVM. It is understood the EIB’s terms are 0.6% above the DI overnight rate, running for nine years. The EIB offered Vivo the loan on 27 September 2007.