MONTREAL – Intercable ICH Inc., a Canadian telecommunications company that provides broadband telecommunications in the international market, has entered into a debt facility of approximately $20.63 million (13 million Euros).
The company said that the facility is through its wholly-owned subsidiary Intercable Africa along with Absa Bank Limited and The Mauritius Commercial Bank Ltd (a bank affiliated to MCB Equity Fund, a shareholder and insider of Intercable), as lenders.
Proceeds will be used to repay a portion of Intercable’s outstanding bridge loans, and finance the build-out of its broadband network in Reunion Island, located in the Indian Ocean, east of Madagascar.
Intercable focuses on underserved telecommunications and cable markets by building and operating its own broadband networks that can offer low cost cable television, high-speed Internet and telephony services.
