Alternative Spanish mobile operator Yoigo has announced that it has signed a loan agreement for EUR130 million (USD177 million), with the funds to be used to allow it to continue to invest in the rollout of its 4G LTE network. According to the cellco, the loan has been signed with several financial institutions, with Banco Santander acting as agent and bookrunner for the transaction, while Banco Sabadell and CaixaBank were also namechecked. The term of the loan is five years.
Alongside revealing the new financial agreement, Yoigo confirmed that over the last two and a half years it has spent more than EUR300 million on its networks, with the bulk of this said to have been directed towards to the deployment of 4G services. Further, it claimed that with it now covering all provincial capitals and all municipalities with more than 70,000 inhabitants, in total 221 municipalities are within its network footprint, with around 50% of the population covered.