The company Metronet telecommunications has signed a contract for a syndicated loan worth 150 million kuna with four banks, the company reported today.
The contract was signed by Metronet with Privredna banka Zagreb (PBZ), Erste&Steiermarkische bank, Volksbank, and Hypo-Alpe-Adria bank. PBZ and Erste each issued 50 million kuna, Volksbank 30 million kuna, and Hypo 20 million kuna. The final maturity of the loan is seven years from the date of the contract, with a grace period of two years.
The syndicated loan will, stated Metronet’s CEO Igor Paurević, enable Metronet to accelerate the expansion of its own network and broadband services across the entire territory of Croatia, with expectations to cover over 70 percent of all Croatian business and residential users. Metronet will use part of the loan funds to repurchase its own bonds issued in 2006, in order to, as the company emphasizes, ‘optimize the capital and debt structure of the company, in accordance with the company’s business plan.’
Metronet also announces new interactive services such as high-definition interactive television (HDTV), video on demand, and more, in addition to broadband access and fixed telephony. The company Metronet has been operating in the Croatian market since May 2005, and today, as a provider of integrated business communication solutions, it has more than 1,400 business users. Advanced voice and data services are also offered to small businesses and residential users through its own infrastructure – an optical network built in more than 20 Croatian cities. (Hina)
