Chorus signs NZD 178 mln fibre funding agreement

News Broadband New Zealand 18 JUL 2014
Chorus signs NZD 178 mln fibre funding agreement
New Zealand fixed-line network operator Chorus has entered into a conditional agreement with Crown Fibre Holdings (CFH). Under the terms of the agreement, Chorus has the option of bringing forward CFH funding of up to NZD 178 million that is budgeted to be spent on Chorus' UFB programme in FY18 and FY19. If Chorus chooses to use the facility, Chorus would be unable to pay a dividend before December 2019 without CFH approval, unless Chorus normalises the CFH funding profile. The facility will automatically terminate if Chorus does not use it by 30 June 2016.

Categories:

Fixed

Companies:

Chorus,  Crown Fibre Holdings

Countries:

New Zealand

Tags:

Financial funding

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