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. Last Updated: 07/27/2016

Prague Cable Plan Set

PRAGUE () -- Dutch ING Bank, part of the Internationale Nederlande Groep, lent Czech operating company Kabel Net Holding a.s. 560 million crowns ($19.7 million) to finance a cable television network for Prague, ING said on Friday.

"The facility is linked to a 34,680,000 mark ($21.76 million) non-recourse project finance arranged by the EBRD (European Bank for Reconstruction and Development), ING Bank, the NIB (Holland-based Nationale Investeringsbank) and Creditanstalt," an ING statement said.

It added that the loan's structure would enable Kabel Net to borrow local currency for seven years at favorable interest rates.