Avantel LTE The project consists of supporting increased penetration and affordability of wireless broadband connectivity in Colombia by helping fund the expansion of Avantel SAS (Avantel or the Company), a wireless telecom operator focused in the enterprise segment using its differentiated push-to-talk (PTT) service through Enhanced Specialized mobile radio (ESMR) technology. The financing will be mainly allocated to the acquisition of LTE spectrum, capital expenditure required for network deployment, debt refinancing and working capital related to growth in number of subscribers.  Avantel provides PTT connectivity to small and medium enterprises (SMEs), large corporate accounts and government agencies located throughout Colombia. The Company was founded in 1996 and later expanded to push-to-talk mobile telephony and value added service applications based on IDEN technology. Avantel is the only nationwide ESMR operator in Colombia and uses 800MHz frequency under licenses granted by the Ministry of Communications. Avantel has a spectrum nationwide license of 7.5MHz (3.75x3.75MHz) in the SMR band (806-824/851-869MHz). - Productivity enhancement/Economic growth: Broadband directly contributes towards improving private sector productivity and has a transformative effect on economic and social development. The contribution of broadband connectivity to economic growth and as an enabler to other innovative business models (e-health, e-education, e-commerce etc.) is widely accepted. The World Bank Group''s "Information and Communications for Development report" 2009 sites a 1.38% increase in economic growth in low- and middle-income economies for each 10% increase in broadband penetration. Recognizing this, the Colombian government has recently launched several initiatives to increase broadband penetration in the country, one of which is "Live Digital" ("Vive Digital"), which aims to increase Colombia''s internet connections to 8.8 million by 2014.   - Innovation/International competitiveness: Broadband enables access to ideas and idea exchange globally, thus transforming research and development. It facilitates trade in services and globalization and improves countries'' competitiveness. According to the World Economic Forum report, "The Global Information Technology Report 2010-2011", there is a direct correlation between the Network Readiness Index, which measures the use and development of ICTs and countries'' international competitiveness. - Improved performance of social services: Availability of broadband improves public services and enhances national business environment and competitiveness. Access to broadband and consequently to greater data transparency and mobility also strengthens the ability to monitor service delivery and accountability in health, health insurance system for the poor, education, early childhood development etc. - Reducing poverty/unemployment: The Colombian Ministry of ICT in its "Live Digital" initiative values the direct correlation between internet penetration, employment generation and poverty reduction. The Ministry sites a study by Raul Katz from Colombia University which cites that in Chile a 10% increase in Internet penetration led to a reduction of unemployment by 2%. According to a UNCTAD "Information Economy Report" for 2010, in developing countries such as the Philippines and India, for each job created in the ICT industry between 2 and 3.5 additional jobs in the economy were generated. - Competitive Environment: The project wil contribute to competition in a higly concentrated market while promoting broader product offerings and higher quality of service.