STOCKHOLM, Sweden, Sept. 19, 2002 (PRIMEZONE) -- Telia's and Tele2's joint venture company, Svenska UMTS-nat AB, today signed a SEK $11 billion term loan and revolving credit facility, for the rollout of 3G in Sweden.
"The rollout and financing of Telia's UMTS network is proceeding on schedule with strongly reduced costs via our joint venture," said Jorgen Latte, Acting CFO of Telia AB.
Svenska UMTS-nat AB is a 50-50 joint venture between Telia and Tele2 that is responsible for the rollout of a 3G network in Sweden.
The credit facility was arranged by Nordea and Svenska Handelsbanken together with a syndicate of other banks that included Swedbank, ABN Amro, Credit Agricole indosuez and Skandinaviska Enskilda Banken.
The structure of the deal involves full recourse to both shareholders in proportion to their ownership and the facility is valid until 2008 with certain amortizations during the period.
Margin, fees and allocations were undisclosed.
For further information journalists can contact: Telia's Press Service, +46-8-713 58 30
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