The Omani Qatari Telecom Company, Nawras, has announced it has secured a new, five-year refinancing facility valued at US$149m.
The company said in a statement the facility consists of a term loan of US$87m and a revolving credit facility of OMR24m…
The Omani Qatari Telecom Company, Nawras, has announced it has secured a new, five-year refinancing facility valued at US$149m.
The company said in a statement the facility consists of a term loan of US$87m and a revolving credit facility of OMR24m (US$62.3m).
Nawras said it has converted an existing project financing facility to one with a corporate structure, more flexible terms and better opportunities for future investments.
The consortium of banks coordinating the facility includes Bank Muscat, DBS Bank, Qatar National Bank (Doha and Muscat) and The Bank of Tokyo-Mitsubishi UFJ.
Nawras CFO, Jorgen Latte, said the facility “further improves Nawras’ conservative debt profile, enhances our financial flexibility and lowers our funding cost”.
Nawras is majority owned by the Qtar-based Qtel Group and listed on the Muscat Stock Market.
