OTE Group secures EUR300m loan for Cosmote mobile networks

12 Jul 2017

Greece’s OTE Group has secured EUR300 million (USD336 million) worth of financing to help expand the wireless broadband network capacity and coverage of its domestic fixed and mobile unit Cosmote. OTE has signed a EUR150 million bilateral term loan with the European Investment Bank (EIB) and an agreement with the European Bank for Reconstruction and Development (EBRD) to raise a further EUR150 million as a syndicated facility. The investment forms part of the group’s EUR1.5 billion planned outlay by 2020 to develop Cosmote’s 4G/4.5G and fibre infrastructure.

Greece, Cosmote, OTE Group