NIB loans Embratel USD50m loan for network expansion

19 Mar 2009

Brazilian fixed line operator Empresa Brasileira de Telecommunicacoes (Embratel) has secured a USD50 million loan from the Nordic Investment Bank (NIB) for the expansion of its wireless broadband and telecoms infrastructure in the country. In a statement published yesterday, the NIB said the operator would be using equipment supplied by Nokia Siemens Networks (NSN). In addition to the NIB loan, Embratel has also concluded a separate USD150 million deal, underwritten by international banks Societe Generale, Stantander, Nordea, Natixis and BBVA.