STOCKHOLM, Dec. 20, 2019 /PRNewswire/ -- Ericsson (NASDAQ:
ERIC) is announcing that it has signed an agreement for credit
facility with the Nordic Investment Bank (NIB) for USD 150 million, maturing in 2025. Of these new
funds, 98 million will replace credit with NIB that was set to
mature in 2021.
In addition to strengthening Ericsson's balance sheet and
financial flexibility, the loan has been granted for the purpose of
financing Ericsson to support investments in research and
development (R&D) in relation to the development of 5G
technology during the years 2020-2022.
Erik Ekudden, Ericsson Chief Technology Officer, says: "Our
increased investments to secure technology leadership in 5G, IoT
and digital services have enabled us to reach nearly 80 commercial
5G agreements and contracts with unique operators, 24 of which are
live networks - more than any other company. In the coming years,
we will see 5G networks going live around the world, with major
deployments from 2020 and we expect the global number of 5G
subscriptions to top 2.6 billion in 2025. The technologies that we
are investing in are fundamentally changing the way we innovate,
collaborate, live and do business."
Key for success in the telecom industry is the delivery of
future-proof, high-quality networks and solutions. To build on its
technology leadership, Ericsson invested SEK
38 billion in R&D in 2018. This has enabled the company
to be the leading contributor in the development of open telecom
standards, with some 49,000 patents.
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About Ericsson
Ericsson enables communications service providers to capture the
full value of connectivity. The company's portfolio spans Networks,
Digital Services, Managed Services, and Emerging Business and is
designed to help our customers go digital, increase efficiency and
find new revenue streams. Ericsson's investments in innovation have
delivered the benefits of telephony and mobile broadband to
billions of people around the world. The Ericsson stock is listed
on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
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SOURCE Ericsson