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Nextel Mexico announces US$ 375 M loan from the China Development Bank to fund 3G network build-out

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.

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ABOUT AUTHOR

Roberta Prescott
Roberta Prescott
Editor, [email protected] Roberta Prescott is responsible for Latin America reporting news and analysis, interviewing key stakeholders. Roberta has worked as an IT and telecommunication journalist since March 2005, when she started as a reporter with InformationWeek Brasil magazine and its website IT Web. In July 2006, Prescott was promoted to be the editor-in-chief, and, beyond the magazine and website, was in charge for all ICT products, such as IT events and CIO awards. In mid-2010, she was promoted to the position of executive editor, with responsibility for all the editorial products and content of IT Mídia. Prescott has worked as a journalist since 1998 and has three journalism prizes. In 2009, she won, along with InformationWeek Brasil team, the press prize 11th Prêmio Imprensa Embratel. In 2008, she won the 7th Unisys Journalism Prize and in 2006 was the editor-in-chief when InformationWeek Brasil won the 20th media award Prêmio Veículos de Comunicação. She graduated in Journalism by the Pontifícia Universidade Católica de Campinas, has done specialization in journalism at the Universidad de Navarra (Spain, 2003) and Master in Journalism at IICS – Universidad de Navarra (Brazil, 2010) and MBA – Executive Education at the Getulio Vargas Foundation.