The European Bank for Reconstruction and Development (EBRD) is set to provide Bulgarian satellite pay-TV and fibre-optic broadband provider Bulsatcom with a EUR20 million (USD26.72 million) loan. According to SeeNews, the funds will be used for the deployment of the company’s planned 4G Long Term Evolution (LTE) network, as well as the further rollout of fibre-optic infrastructure. The senior secured loan for the project will be provided alongside a EUR65 million senior secured syndicated loan with an unnamed commercial bank.
According to TeleGeography’s GlobalComms Database, Bulsatcom was awarded a ten-year, technology-neutral mobile network operating licence in the 1800MHz frequency band in December 2011, at a cost of BGN19 million (USD11.9 million). The licence was officially handed to Bulsatcom’s CEO in January 2013, and although the operator initially planned to deploy its mobile services by the end of 2013, the commercial introduction of the network has yet to take place.