Italy-based tower company Inwit received a €250 million loan from the European Investment Bank (EIB) which it planned to place around developing digital infrastructure and debt optimisation.
In a statement, Inwit explained the financial injection will fund construction of new towers for 5G, alongside deployment of equipment for indoor and outdoor networks including small cells and distributed antenna systems (DAS).
Inwit will also use the loan to test new innovative technologies and to expand fixed broadband coverage in areas with low population density.
Being the first company project funded by the EIB, Inwit CEO Giovanni Ferigo commented the move showed “the importance of the work we are doing” to build Italy’s infrastructure serving operators and fixed wireless access, while “continuing our contribution to the reduction of the country’s digital divide”.
Inwit also intendeds to use the loan to optimise the structure of its net debt, which by 30 June totalled €4.1 billion.
In October 2020, Telecom Italia completed a major stake divestment in Inwit to a consortium led by French private equity company Ardian.Subscribe to our daily newsletter Back