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Telemar – export financing
23 March 2009
Boost for Brazil telecoms from NIB
Read more:
BBVA
BNPP
Finnvera
Telemar
Nokia
NIB
Sao Paulo
FEC
Allen & Overy
In mid-2008 a landmark $550 million financing was arranged by BBVA and BNP Paribas (BNPP), along with Nordic Investment Bank (NIB) and the Finnish export credit agency Finnvera to support telecommunications equipment deliveries from Nokia Siemens Networks to Brazilian telecoms company Tele Norte Leste Participacoes (Telemar – now known as 'Oi'). The loans finance the expansion of Telemar's 2G and 3G mobile networks in the São Paulo region.
The overall financing was effectively split into two loan packages. The first part is an A/B loan from NIB, and importantly this is the first ever such structure used by the development bank....
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