NII Holdings announced that its operating subsidiary, Nextel Mexico will receive $375 million loan from China Development Bank (CDB) to acquire 3G network infrastructure from Huawei Technologies.
Under the terms of the agreement, Nextel Mexico will receive up to $375 million in financing from CDB to assist in the deployment of its 3G network in Mexico. The financing has a final maturity of ten years, with a three year drawdown period and a seven year repayment term.
In February 2011, NII Holdings signed agreements with Huawei to provide end-to-end W-CDMA solutions to build Nextel Mexico’s W-CDMA networks relating to its 3G spectrum licenses in Mexico.
We are extremely pleased that Nextel Mexico secured this funding, which is consistent with our strategy of obtaining long-term financing with attractive rates at the market level,” said Gokul Hemmady, executive vice president and chief financial officer of NII Holdings.
NII Holdings is a provider of mobile communications for business customers in Latin America. NII Holdings has operations in Brazil, Mexico, Argentina, Peru and Chile, offering a fully integrated wireless communications tool with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect and International Direct Connect, a digital two-way radio feature.
By Telecomlead.com Team
editor@telecomlead.com
