Ericsson has closed a credit facility with the Nordic Investment Bank for $150 million, maturing in 2025. Of these new funds, $98 million will replace credit with NIB that was set to mature in 2021.
In addition to strengthening Ericsson’s balance sheet and financial flexibility, the loan has been granted for the purpose of financing Ericsson to support investments in research and development in relation to the development of 5G technology during the years 2020-2022.
“Our increased investments to secure technology leadership in 5G, IoT and digital services have enabled us to reach nearly 80 commercial 5G agreements and contracts with unique operators, 24 of which are live networks – more than any other company. In the coming years, we will see 5G networks going live around the world, with major deployments from 2020 and we expect the global number of 5G subscriptions to top 2.6 billion in 2025,” said Erik Ekudden, Ericsson chief technology officer.
Ericsson enables communications service providers to capture the full value of connectivity.
