Deutsche Bank announced today that it has signed a term loan facility with SK Telecom Co. Ltd. (SKT) for USD97.92 million to finance purchases by SKT from Ericsson-LG for the procurement and installation of 4G network equipment and related services.
Listed on several stock exchanges and headquartered in Seoul, SKT is a wireless telecommunications provider based in South Korea.
Deutsche Bank AG, London Branch, acted as the sole Mandated Lead Arranger and Facility Agent for the facility.
The facility matures in 2022 and benefits from a comprehensive insurance cover from Exportkreditnämnden (EKN), the Swedish Export Credit Agency. The facility is the first ever EKNsupported loan facility for a South Korean telecommunications company and is funded by AB
Svensk Exportkredit (SEK) on a competitive fixed rate basis.
James Pumphrey, Head of Structured Trade & Export Finance UK, Global Transaction Banking at Deutsche Bank, said: “We are delighted to sign this facility with SK Telecom, which reflects how highly we regard the company. We look forward to continuing to work with SKT.”