Newspaper article The Canadian Press

Wind Mobile Gets New $425-Million Financing Arrangement for Network Upgrade

Newspaper article The Canadian Press

Wind Mobile Gets New $425-Million Financing Arrangement for Network Upgrade

Article excerpt

Wind Mobile gets $425M bank financing deal

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TORONTO - Wind Mobile Corp. has arranged for up to $425 million of financing that will support an upgrade of its network to LTE technology.

The Toronto-based company has been doggedly growing its business since launching the service six years ago, the first of several new competitors for the three established national carriers: Rogers, Telus and Bell.

The big networks -- which continue to dominate the Canadian market -- have already deployed LTE technology across most of their territory, enabling their networks to deliver higher data speeds and more service features to their customers.

The much smaller Wind has sometimes had difficulty raising funds for its capital investments but a change in its ownership structure late last year cleared the way for it to raise funds. …

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