Orange inks European Investment Bank loan for €700 million

By Rebecca Melvin

New York, Dec. 6 – Orange SA announced that it has inked a loan with the European Investment Bank for €700 million.

The loan will be drawn down in two parts including €350 million on Friday and €350 million in the first quarter of 2020, according to a company news release.

The funding will be used to finance part of the deployment of a high-speed broadband network in urban areas in France that are outside of very dense areas. These areas are defined as places where population density and digital coverage are considered moderate.

Orange is a telecommunications company based in Paris.

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