Press Release
COSMOTE Romania concludes €225 million loan led by EBRD to up 4G investments
OTE continues its successful refinancing plan
Athens, July 24, 2013
COSMOTE Romania, subsidiary of the OTE Group, secured a €225 million loan arranged by the European Bank for Reconstruction and Development (EBRD) in order to finance the strategic growth of its broadband infrastructure. COSMOTE Romaniawill use the resources for the dynamic expansion of its 4G network and the renewal of spectrum licenses.
COSMOTERomania will receive €75 million directly from the EBRD and €150 million through a syndicated loan from commercial banks. The loan matures in April 2018.
OTE Chairman and CEO, Mr. Michael Tsamaz, noted: "In a highly competitive market, COSMOTERomania is investing in infrastructure to offer customers faster broadband, even better quality and innovative applications and services. The agreement with the EBRD is another part of OTE's multilayered refinancing strategy. The confidence of EBRD in the OTE Group opens up new outlets for other Greek companies which operate in countries in the scope of the Bank for potential strategic collaborations with such an important international institution.”
NOTE: This announcement is made by The Hellenic Telecommunications Organization SA (OTE SA), as “Regulated information” in accordance with Law 3556/2007, 1/434/03.07.2007 Decision of the Hellenic Capital Market Commission, article 13 of Law 3340/2005 and 3/347/12.07.2005 Decision of the Hellenic Capital Market Commission.
Information
|
OTE Group Investor Relations Τel. +0030 210-611-1574 Fax: +0030 210-6111030 E-mail: dtzelepis@ote.gr
|
Media Office OTE Corporate Communications Department Tel. + 30 210-6118033 Fax. + 30 210-6115825 E-mail: media-office@ote.gr
|