Close X
Thursday, November 28, 2024
ADVT 
Tech

Wind Mobile Gets New $425-million Financing Arrangement For Network Upgrade

Darpan News Desk The Canadian Press, 10 Dec, 2015 11:33 AM
    TORONTO — Wind Mobile Corp. has arranged for up to $425 million of financing that will support an upgrade of its network to LTE technology.
     
    The Toronto-based company has been doggedly growing its business since launching the service six years ago, the first of several new competitors for the three established national carriers: Rogers, Telus and Bell.
     
    The big networks — which continue to dominate the Canadian market — have already deployed LTE technology across most of their territory, enabling their networks to deliver higher data speeds and more service features to their customers.
     
    The much smaller Wind has sometimes had difficulty raising funds for its capital investments but a change in its ownership structure late last year cleared the way for it to raise funds.
     
    Wind said Thursday that a syndicate of major Canadian banks, led by Toronto-Dominion, Bank of Montreal and Canadian Imperial Bank of Commerce, will provide new secured debt financing.
     
    Finland's export credit agency will also provide financial support for Wind's purchases from Nokia Networks, which will be the sole supplier for the LTE upgrade.
     
    Industry Canada rules on mandatory roaming access mean that if Wind Mobile builds an LTE network of its own, its customers should be able to access the LTE networks of the incumbent carriers while outside Wind's coverage zone.

    MORE Tech ARTICLES

    Sony Playstation And Xbox Networks Still Recovering From Christmas Disruption

    Sony Playstation And Xbox Networks Still Recovering From Christmas Disruption
    Sony's PlayStation network remained offline Friday on the second day of an outage that began roiling the online world just as eager video game players were unwrapping new consoles on Christmas morning.

    Sony Playstation And Xbox Networks Still Recovering From Christmas Disruption

    iphone To Help You Track Your Tweets

    iphone To Help You Track Your Tweets
    A new feature in Twitter's iPhone app can find how many people are reading your tweets, retweeting or clicking on a link you posted.

    iphone To Help You Track Your Tweets

    New device to precisely assemble whole organs

    New device to precisely assemble whole organs
    A new tissue building device shows promise of manufacturing human organs such as livers, kidneys or pancreas for anyone who needs a replacement....

    New device to precisely assemble whole organs

    Tech trends for 2015: virtual reality, wearables, streaming video

    Tech trends for 2015: virtual reality, wearables, streaming video
    TORONTO — Will 2015 be the year that virtual reality goes from sci-fi fantasy to real world play thing?

    Tech trends for 2015: virtual reality, wearables, streaming video

    Teenagers Are Leaving Facebook

    Teenagers Are Leaving Facebook
    Facebook is less popular among teenagers than last year, says a survey, adding that 88 percent of teenagers now use the social network against 94 percent last year.

    Teenagers Are Leaving Facebook

    Take 3D Photos With Your iPhone 6

    Take 3D Photos With Your iPhone 6
    A new app that allows iPhone 6 users to take 360 degree pictures of objects and then show them as 3D photographs is here.

    Take 3D Photos With Your iPhone 6