Metrotel FIber Optic Network Expansion

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"This project focuses on the expansion of Metrotel's fiber optic network in Argentina, aiming to enhance access to high-quality internet in remote communities across the country. The initiative is sponsored by CPS Comunicaciones SA (Metrotel), an Argentinian company with over 25 years of leadership in B2B solutions. Metrotel operates a 6,400 km fiber optic network in the Buenos Aires metropolitan area, indirectly serving more than 10,000 households. The total project cost is $110 million, with $25 million each provided by IDB Invest and Itaú BBA. The proposed financing, granted on 5 December, 2024 is secured by a series of guarantees of up to $50 million, as well as an uncommitted working capital facility of up to $10 million and uncommitted parallel loans of up to $50 million. Citibank, NA, a branch of Citibank, established in the Republic of Argentina, acted as agent for the guarantee. The financial close occurred on December 17, 2024." https://idbinvest.org/en/news-media/idb-invest-promotes-digital-transformation-argentina-together-metrotel ; https://www.tanoiracassagne.com/en/metrotel-secures-a-credit-line-of-up-to-usd-50-million-extendable-up-to-usd-110-million-from-idb-invest-together-with-banco-itau-to-finance-the-expansion-of-its-fiber-optic-infrastructure-in-argen/ ; https://thelatinamericanlawyer.com/several-firms-on-credit-line-granted-to-metrotel/