Tele2 secures SEK2bn loan

Sweden’s Tele2 Group has secured a SEK2 billion (USD220 million) loan with the Nordic Investment Bank (NIB) for the financing of its recently completed merger with Com Hem. The agreement includes the repayment of an existing loan with NIB worth EUR130 million (USD147 million), so Tele2 will benefit from proceeds of approximately SEK650 million. Tele2 says the additional funding will extend its maturity profile and achieve further diversification of its financing. This is the fifth loan agreement between NIB and Tele2 since 1994.