Telefonica Secures $1 Billion Financing Agreement with Ericsson

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Spain's Telefonica is reported to have secured export guarantees worth USD1 billion from Swedish government agencies to secure the purchase of equipment from Ericsson.

In a statement sent to the Reuters news agency, the company said that it "continues to drive the use of diverse financing instruments, apart from bonds and loans, and to increase its financing deals with export credit agencies for financing equipment,"

The deal is backed by two Swedish export authorities, the Swedish National Export Guarantee Board (EKN) and the Swedish Export Credit Corporation (SEK).

Telefonica said the network equipment and commissioning services from Ericsson were for various subsidiaries across the world.

Neither export agency or Telefonica have confirmed the details on their own websites though.

On the web: Reuters

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Tags: telefonica  ericsson  Spain  Sweden 

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