The additional funding from NIB will extend Tele2’s maturity profile and achieve further diversification of its funding. This will include a cancellation of Tele2’s existing loan from NIB (EUR130 million), which will result in new proceeds of approximately SEK650 million.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
Tele2 and NIB have a relationship that spans over more than 20 years. This is the fifth loan agreement between the parties and the first one was issued already in 1994.
NIB only finances specific investment projects that fulfil the Bank’s mission, which is to improve productivity and the environment of the Nordic-Baltic region.