Export Development Canada

Export Development Canada

September 08, 2014 00:01 ET

EDC Provides Over EUR 180 M in Financing to Telefónica Benefiting the Canadian Telecom Industry

OTTAWA, ONTARIO--(Marketwired - Sept. 8, 2014) - Export Development Canada (EDC) today announced it has provided more than EUR 180 M in financing to Spain's Telefónica to make it easier for Telefonica to buy products and services from Alcatel Lucent (ALU).

ALU, the French-owned telecommunications equipment company, has operations in a number of Canadian cities focusing on research and development, sales, and customer service. ALU's strong exports, history of creating jobs, and their experience helping Canadian suppliers grow into dynamic exporters make them a strategic partner for EDC.

"EDC's financing will not only help ALU grow its business with Telefónica, but it will also help open the door for Canadian companies to enter the supply chains of both telecommunications giants," said Stephen Wilhelm, Regional Vice President for Africa, Europe, and the Middle East, EDC.

"Alcatel-Lucent plays an important role in the Canadian information and communications technology sector, creating jobs and contributing to the growth of Canada's expertise within the sector," said Carl Burlock, Financing and Investments, EDC. "EDC's support for large exporters such as Alcatel-Lucent creates business and job opportunities within their Canadian supply chains," added Burlock.

EDC has been providing financing to Telefónica since 2006 as they continue to purchase and partner with Canadian-based companies.

By growing its business with Telefónica, ALU is strengthening its relationship with one of the largest telecommunications companies in the world, with operations in 24 countries and a customer base of over 315 million subscribers.

About Telefónica

Founded in 1924, Telefónica is one of the largest telecommunications companies worldwide, headquartered in Madrid, Spain. They have operations in 24 countries and a customer base of over 315 million subscribers. Telefónica is a wholly listed company, and its capital is traded on the Spanish Stock Exchanges (Madrid, Barcelona, Bilbao and Valencia) and on those of London, New York, Lima and Buenos Aires.

About Alcatel-Lucent

Alcatel-Lucent is at the forefront of global communications, providing products and innovations in IP and cloud networking, as well as ultra-broadband fixed and wireless access to service providers and their customers, and to enterprises and institutions throughout the world.

Alcatel Lucent innovations have resulted in our Group being recognized by Thomson Reuters as a Top 100 Global Innovator, as well as being named by MIT Technology Review as amongst 2012's Top 50 "World's Most Innovative Companies".

With revenues of Euro 14.4 billion in 2013, Alcatel-Lucent is listed on the Paris and New York stock exchanges. The company is incorporated in France and headquartered in Paris, offices in Ottawa.

About EDC

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 7,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

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