Close X
Thursday, November 14, 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

    Gift Guide: How To Choose A Tablet From The Vast Array Of iOS, Android And Windows Choices

    Gift Guide: How To Choose A Tablet From The Vast Array Of iOS, Android And Windows Choices
    Time for a tablet? People tend to hold onto tablets longer than smartphones, so take time to weigh your options. A major consideration is what phone you or your gift recipient already has.

    Gift Guide: How To Choose A Tablet From The Vast Array Of iOS, Android And Windows Choices

    Unboxing Videos On The Rise, Freezing That Big Reveal Of Anything From New Phone To Happy Meal

    Unboxing Videos On The Rise, Freezing That Big Reveal Of Anything From New Phone To Happy Meal
    NEW YORK — Rrrrip goes the packing tape and squeak goes the protective foam. Are there sweeter, more seductive sounds than the opening of a new toy or gadget?

    Unboxing Videos On The Rise, Freezing That Big Reveal Of Anything From New Phone To Happy Meal

    Most Internet Users Know What A Hashtag Is, But Are Less Clear On How Internet Works

    Most Internet Users Know What A Hashtag Is, But Are Less Clear On How Internet Works
    A new Pew Research Center survey released Tuesday found most people can recognize Microsoft founder Bill Gates and know that hashtags belong in tweets, but are confused about whether having a privacy policy means that a company actually keeps consumer information confidential.

    Most Internet Users Know What A Hashtag Is, But Are Less Clear On How Internet Works

    Hidden computer virus found after six years

    Hidden computer virus found after six years
    Computer security firm Symantec has discovered a hidden virus that has been spying on computers across the globe, including in India, for at least six years....

    Hidden computer virus found after six years

    Viber launches Public Chats in India

    Viber launches Public Chats in India
    Buoyed by the fast growing number of users in India, the mobile communications app, Viber, offering free messaging and calls, Tuesday launched new...

    Viber launches Public Chats in India

    5G services for super-fast internet in the offing

    5G services for super-fast internet in the offing
    Researchers are now close to finding how software-defined cellular networking might be used to give smartphone users the next generation of super-superfast broadband - 5G....

    5G services for super-fast internet in the offing