Mizuho to lend AT&T USD3bn to bankroll 600MHz auction participation

14 Jan 2015

Mizuho Bank, Japan’s second largest banking group by assets, is set to lend AT&T Inc USD3 billion to support the US telco’s participation in the Federal Communications Commission’s (FCC’s) planned auction of 600MHz spectrum. According to the Japan Times, Mizuho’s the Bank of Tokyo-Mitsubishi UFJ, Mizuho’s larger domestic rival, is also looking to extend AT&T a loan of around USD500 million.

According to TeleGeography’s GlobalComms Database, the FCC’s ‘Broadcast Television Spectrum Incentive Auction’ is scheduled to take place in 2016, marking the first opportunity since January 2008’s 700MHz auction for US wireless carriers to buy low-frequency airwaves.

United States, AT&T, AT&T Communications