Viom Networks plans to raise about Rs 15 billion repayable over 10 years through a mix of domestic and overseas borrowings from a consortium led by Deutsche Bank to fund possible acquisitions, according to news reports.
The firm, jointly promoted by the Tata Group and infrastructure group Quippo, had recently put in a bid to buy Vodafone Essar?s telecom towers. It has now lined up long-term debt-finance from a Deutsche Bank-led consortium that includes German development finance agency DEG, the Bank of India and the Bank of Baroda.
It is believed that Viom?s immediate funds requirement for planned tower asset acquisitions is just under Rs 20 billion, of which roughly 80 per cent is proposed to be funded through borrowings and the balance by the company?s shareholders.
