July 27, 2011 / 9:22 PM / 8 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)

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