Airtel’s USD95m upgrades financed by new loans

1 Apr 2014

Indian-owned cellco Airtel Bangladesh is financing USD95 million of network upgrades via two loans from Mauritius Standard Chartered Bank (USD45 million) and HDFC Hong Kong (USD50 million), after receiving the requisite no-objection certificate from the Bangladesh Telecommunication Regulatory Commission (BTRC) for the long-term offshore loans, the Daily Star reports. CommsUpdate previously reported that Airtel Bangladesh launched commercial 3G 2100MHz mobile services in November 2013 following a trial the month before, after paying USD105 million for its 2×5MHz 3G licence in September.

Bangladesh, Airtel Bangladesh