April 9, 2020 |
Telecom Argentina said on Wednesday that it drew $25 million from a $300 million credit line it has with IDB Invest to expand telecommunications services in the country.
Telecom will use the money from the 31-month credit, due in November 2022, to expand its 4G mobile phone network and increase broadband internet services, the company said in a securities filing. The financing is from a $300 million credit line that Telecom secured from the multilateral lender in May 2019, it added.
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Argentine telecom says it will use the financing to expand 4G and broadband networks