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Tele2 secures loan to finance Com Hem takeover

Anders Nilsson

Swedish telco Tele2 has secured a SEK2 billion (€200 million) loan from the Nordic Investment Bank (NIB) to finance its merger with cable operator Com Hem.

Tele2 said that the additional funding from NIB would extend its maturity profile and achieve further diversification of its funding. This will include a cancellation of Tele2’s existing loan from NIB (€130 million), which will result in new proceeds of approximately SEK 650 million.

NIB is an international institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries.

Tele2 completed its takeover of Com Hem in November, with all of Com Hem holding’s assets and liabilities transferred to Tele2.

The combined company is led by former Com Hem CEO Anders Nilsson.