Du, the UAE’s number two operator, announced today that it has secured a US$207m bilateral export credit facility from German bank KfW IPEX-Bank GmbH.
KfW IPEX is a well-established specialist in the area of international project and export finance and…
Du, the UAE’s number two operator, announced today that it has secured a US$207m bilateral export credit facility from German bank KfW IPEX-Bank GmbH.
KfW IPEX is a well-established specialist in the area of international project and export finance and based in Frankfurt.
The facility is primarily backed by German ECA Euler Hermes Kreditversicherungs.
Du stated that it will use the proceeds of the loan to purchase infrastructure equipment from Nokia Siemens Networks in connection with the further roll-out and upgrade of its 2G and 3G network.
In April, NSN also enabled E200m (US$260m) of vendor financing to Du through Nordea Bank.
