The Hungarian incumbent telco Magyar Telekom has been granted a long-term loan of €150 million to finance mainly its broadband investment projects.
Denominated in forints at an exchange rate of HUF276.6 to €1 as of November 25, it has been obtained from the European Investment Bank (EIB) by the Deutsche Telekom subsidiary DT International Finance B.V.
The loan is for a period of six years and bears a fixed interest rate.
Magyar Telekom is the leading provider of broadband services in Hungary and has a strong involvement in the country’s cable, DTH and IPTV sectors.
