Nextel Mexico To Get $375M Loan For 3G

Nextel Mexico, an operating subsidiary ofNII, will secure up to $375 million in financing to buy infrastructure for its 3G network in Mexico fromHuawei Technologies. The loan will be provided byChina Development Bank.

The financing has a final maturity of 10 years, with a three year drawdown period and a seven year repayment term. In February 2011, NII signed a deal with Huawei to offer end-to-end W-CDMA solutions to create Nextel Mexico’s W-CDMA networks relating to its 3G spectrum licenses in Mexico.

Click here for the release fromPR Newswire.