July 27, 2011 / 9:22 PM / 7 years ago

Mexico's Nextel to get $375 mln loan from CDB

MEXICO CITY, July 27 (Reuters) - NII Holdings said on Wednesday that its Mexican unit will get a loan of up to $375 million to buy infrastructure for its 3G network in the country.

Nextel Mexico, which saw a short-lived wireless phone market venture with broadcaster Televisa (TV.N)(TLVACPO.MX) collapse in 2010, will receive the loan from the China Development Bank, NII (NIHD.O) said in a release.

“The financing has a final maturity of ten years, with a three year drawdown period and a seven year repayment term,” the Reston, Virginia, company said, adding the money will be put towards Nextel purchases with Huawei Technologies Co Ltd [HWT.UL]. (Reporting by Cyntia Barrera Diaz; Editing by Gary Hill) (cyntia.barrera@thomsonreuters.com; +5255 5282-7161; Reuters Messaging: cyntia.barrera.reuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below