Orange Espana inks second loan agreement with EIB

19 Jan 2010

Spanish mobile network operator Orange Espana has taken a EUR200 million (USD287.5 million) long-term loan from the European Investment Bank (EIB), Europa Press reports. This is the second round of funding that the cellco has obtained from the financial institution, adding to the EUR300 million loan Orange took out in June 2009. It is understood that the funds will be used to develop and expand Orange’s national mobile network, with a particular focus on its 3G infrastructure, while some investment will also be set aside for the integration of the company’s fixed line DSL services. Orange Espana CEO Jean Marc Vignolles said that the decision by the EIB to approve the second loan was a result of its confidence in the cellco’s plans and the ‘soundness of their project, its presence in the Spanish market, with more than 12.7 million customers, and future plans.’

Spain, Orange Espana (incl. Jazztel)