Published On: Wed, Jan 16th, 2013

Curaçao Based UTS Investment Plans Revealed

WILLEMSTAD – Dutch Caribbean Business reports that United Telecommunication Services a.k.a. UTS, the telecom company based in Curaçao, is planning to heavily invest in new technology in the coming years.

The company’s investment program for the next three years includes (1) the landing of a new undersea telecommunications cable, (2) a significant increase of Internet bandwidth for corporate and private customers, (3) the purchase of the new building located at Berg Arrarat and (4) the improvement / upgrading of the current infrastructure for fixed and mobile telecommunications services.

The company recently secured a loan of ANG 100 million to fund the large scale investment.

The loan, to be provided by a consortium led by the Maduro & Curiel’s Bank, is part of an even larger investment of approximately ANG 200 million for the next three years. United Telecommunication Services will use its own resources to fund the balance.

There is a broad agreement as to the external financing structure which include an interest rate of approximately 5.75 percent. Actual closing of the transaction is expected to take place next month.

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