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Ericsson agrees €500mn loan with European Investment Bank

The European Investment Bank has agreed to lend Swedish telecoms equipment vendor €500mn to support its R&D efforts aimed at developing next-generation radio and IP technology that supports mobile broadband build-out globally.

Disbursement of the loan is available until April 2014, and it will mature seven years after disbursement. The financing is targeted for development activities at sites in Sweden and Finland.

“We are using new smart devices and apps in new ways and need them to function well all the time everywhere,” said Johan Wibergh, Head of Business Unit Networks at Ericsson.

“It’s changing the way we live and it’s placing new requirements on the networks. Our research and development is focused on providing the best performing networks that meet those requirements.

Ericsson invested SEK 32.6bn (US$ 4.87bn) in R&D in 2011, including restructuring charges.

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