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Bulgaria : EBRD to offer EUR20m loan to BULSATCOM

August 7, 2014

The European Bank for Reconstruction and Development (EBRD) will be offering an EUR20 million loan to Bulgarian satellite pay-TV and fibre-optic broadband provider Bulsatcom.

The funds will be used towards the deployment of the company s planned 4G Long Term Evolution (LTE) network, and will also support the further rollout of fibre-optic infrastructure.

The senior secured loan for the project will be offered alongside a EUR65 million senior secured syndicated loan with an commercial bank whose name was not revealed.

In December 2011, Bulsatcom had won a ten-year, technology-neutral mobile network operating licence in the 1800MHz frequency band, at a cost of BGN19 million. In January 2013, the licence was formally handed to Bulsatcom s CEO, and initially the operator was scheduled to deploy its mobile services by the end of 2013, but still the commercial introduction of the network has not taken place.

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Source: TendersInfo (India)

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