Nextel Mexico has signed an agreement with China Development Bank (CDB) to receive a US$ 375 million loan in order to acquire 3G network infrastructure from Huawei Technologies Co. Ltd., a global provider of next-generation telecommunications network solutions. The announcement was made July 27 by NII Holdings, Inc.The financing has a final maturity of ten years, with a three year drawdown period and a seven year repayment term. In February 2011, NII Holdings signed agreements with Huawei to provide end-to-end W-CDMA solutions to build Nextel Mexico’s W-CDMA networks relating to its 3G spectrum licenses in Mexico.
The funding was considered strategic to place Nextel in a strong position to evolve its business while pursuing growth initiatives in Mexico. This agreement with CDB further enables Nextel Mexico to take a significant step forward in executing its 3G strategy.
>>> Follow RCR Wireless Americas on Twitter: @RCRAmericas