Ericsson Signs Loan Agreement with European Investment Bank
Ericsson announced that it has signed a loan agreement with the European Investment Bank (EIB). The loan amount is EUR 500 million (or the equivalent in USD), and the Company has an option for disbursement until April 2014. The loan will mature seven years after disbursement. The loan supports Ericsson's Research and Development activities to further develop the next generation radio and IP technology that supports mobile broadband build-out globally. The financing is targeted for development activities at sites in Sweden and Finland. The loan will extend the debt maturity profile and will further diversify funding sources, without an increase in gross debt.
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