TrueMove secures funding for 900-MHz license

29 Feb 2016
00:00

TrueMove has announced it has secured funding for its the 2.12 billion (76 billion baht) 900-MHz licence it won in a marathon 87-hour auction in December.

Half the loan and bank guarantee is being provided by Chinese bank ICBC $978 million (35 billion baht). Thai banks Kasiorn Bank, Siam Commercial Bank and Bangkok Bank are in for $293 million (10.5 billion baht) each. State-owned Krungthai bank is in for 111 million (4 billion baht) and Kiatnakin bank 83 million (3 billion baht).

The first tranche of $224 million (8,040 billion baht) along with a bank guarantee for the remainder is due 90 days after the auction was ratified or 21 March.

No news has yet been heard from the other winner of the 900-MHz auction, Jasmine and the NBTC has taken to threatening Jas with cancellation of its fixed-line licence if they fail to pay.

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