Idea Cellular accesses Finnvera’s temporary transfer scheme

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09 January 2012

A financing package for Indian telecoms company Idea Cellular is one of the last deals to sign under the Finnish export credit agency’s temporary transfer scheme.

Crédit Agricole, as facility agent, and SEB have arranged $140 million in financing for Indian telco Idea Cellular through a lending scheme conceived by the Finnish export credit agency Finnvera.

The 10-year deal signed on 15 December 2011 but utilises a Eu.2.5 billion temporary lending scheme which expired in June last year. Trade Finance understands the rush to submit applications to Finnvera before the deadline created a backlog and slowed the approval process.

The temporary scheme was in such demand that it has recently been made permanent with a Eu3 billion allocation to be...

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