Telecom gear manufacturer, Ericsson said on Friday that it has taken a $ 625 million loan from Swedish Export Credit Corporation.

“Ericsson intends to use the proceeds of the offering for refinancing of bonds maturing within the current and next year and for general corporate purposes," said the company.

The loan with a seven year maturity period will help the company in lengthening the debt maturity profile and provide a more efficient capital structure, added the company.