Broad Expansion: Sri Lanka telco to float US$75mn loan for expansion.
Byline: LBO
Sept 06, 2011 (LBO) - Sri Lanka Telecom, the island's largest telecom operator, said it will raise 75 million US dollars from a syndicated loan to upgrade and expand its network including Mobitel, the group mobile unit.
"We are still in the process of finalizing the syndicated loan," chief executive Gregg Young said.
The syndicated loan will be used for further investments into Mobitel, our network investments to expand broadband and network modernization.
The dollar...
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