Mexican banks fund Red

Mexican banks Banobras, Nafín, and Bancomext signed a US$948m credit agreement with Mexican consortium Altán Redes to finance the project Red Compartida in Mexico, the Mexican Treasury disclosed in a press release.

The agreement gives 13 years to Altán to repay the loan. According to previous reports, Altán has already started building the Red Compartida’s 700MHz network and it expects it to be 30% operational by the end of March 2018. The project is expected to cover over 92% of the Mexican population over the next 7 years.