Belgium’s export credit agency ONDD has renewed its existing partnership with telecommunications provider Alcatel-Lucent.
The partnership works as an agreement for ONDD to provide insurance for third-party financing for the purchase of Alcatel-Lucent telecoms equipment by service providers worldwide.
The agreement was originally signed one year ago, and has already helped facilitate a US$250mn buyer credit facility from Brazil’s largest telecommunications company, Oi, to purchase Alcatel-Lucent equipment.
The project was financed by Crédit Agricole CIB and was backed by ONDD, and was a significant deal, as Marie-Laure Mazaud, global head of project finance and credit at Alcatel-Lucent, notes: “Our overall agreement with ONDD, as demonstrated by this key transaction with Oi, provides a powerful tool for Alcatel-Lucent to help its customers meet their financing needs.
“A number of other opportunities are currently worked out with ONDD teams, and our agreement with ONDD really provides Alcatel-Lucent with outstanding flexibility regarding its project financing needs around the world.”
An Alcatel-Lucent spokesperson tells GTR: "This Agreement allows Alcatel-Lucent to provide its customers with more flexible ECA-backed financing solutions, especially for the financing of large international projects around the world. This agreement is a powerful element in Alcatel-Lucent’s broader activities to support its customers in securing financing to expand their networks and better address the booming demand for communications and broadband internet services."
Dominique Meesseen, head of underwriting department at ONDD, adds: “Considering Alcatel-Lucent’s significant presence in Belgium and our good ties with the group, it has been decided to renew the overall agreement. By renewing this agreement, ONDD confirms its commitment to support Alcatel-Lucent in its international operations.”
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