Nokia Corporation (NOK): Canada's Wind Mobile gets C$425 mln loan...

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Thursday, 12/10/2015 10:41:27 PM

Thursday, December 10, 2015 10:41:27 PM

Canada's Wind Mobile gets C$425 mln loan to help expand network

BY Reuters
— 2:07 PM ET 12/10/2015

Dec 10 (Reuters) - Wind Mobile, Canada's fourth largest wireless provider, said it closed a new C$425 million ($312 million) debt facility that will help it deploy a high-speed LTE network using equipment and services supplied by Nokia Corp ( NOK ) .
The loan syndicate was led by TD Securities, BMO Capital Markets and Canadian Imperial Bank of Commerce ( CM ), Wind Mobile said in a statement.

The company said the facility, which also helped re-finance existing debt facilities, consists of multiple delayed-draw tranches to fund both operational growth and network expansion.

Wind Mobile lags far behind the three big Canadian players, Telus Corp ( TU ), Rogers Communications Inc ( RCIAF ) and BCE Inc's ( BCEXF ) Bell, each of which has at least 10 times as many wireless subscribers. ($1 = C$1.36) (Reporting by Manish Parashar in Bengaluru; Editing by Savio D'Souza)