European bank extends USD309m loan to TIM Brasil

4 Jun 2008

Brazilian cellco TIM Brasil has inked a EUR200 million (USD309 million) long-term loan facility with the European Investment Bank (EIB), reports BNamericas citing a filing from the operator with the Sao Paulo stock exchange Bovespa. The loan will be used by TIM units TIM Celular and TIM Nordeste.

Brazil, TIM Brasil