Up to USD 7 million in the capital of Enforta,combined with a senior unsecured loan to Enforta’s Russian subsidiary ZAO Prestige Internet (the company) in the amount of USD 5 million to finance the ongoing expansion of its wireless broadband services in regional centres throughout the Russian Federation.
The proposed project will
enable the company to enhance its competitive position through the development and expansion of internet broadband, virtual private network and telephony services
facilitate the use of pre-WIMAX and WIMAX technology to provide rapid connections to customers who have had limited or no access to the internet
contribute to market expansion through introduction of new products based on wireless broadband solutions
further fuel deployment of broadband internet, which has lagged in Russia due to the antiquated local telecoms infrastructure
- stimulate competition in Moscow and St Petersburg where the sector is dominated by fixed line incumbent operators thanks to good DSL infrastructure.
The Enforta Group, sponsored by the Sumitomo Corporation and private equity funds managed by Barings Vostok Capital Partners, is one of the largest wireless broadband Internet service provider in the Russian Federation.
Up to USD 7 million equity and USD 5 million debt financing.
USD 57 million.
Screened C/1. The Project is unlikely to be associated with any significant environmental issues. The environmental due diligence is currently under way. The Company will be required to comply with national and EU environmental, health and safety standards and requirements and to submit annual reports on environment, health and safety issues.
Lee Sparkman, President
Korp 58, Building 1
Partijniy Pereulok 1
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