Kuwaiti mobile operator Viva has signed a US$270m multi-currency financing agreement with National Bank of Kuwait (NBK) to fund its network upgrade.
The five-year financing includes a US$70m murabaha facility from Boubyan Bank, a member of the NBK…
Kuwaiti mobile operator Viva has signed a US$270m multi-currency financing agreement with National Bank of Kuwait (NBK) to fund its network upgrade.
The five-year financing includes a US$70m murabaha facility from Boubyan Bank, a member of the NBK Group.
Commenting on the deal, Viva CEO Salman Al Badran said: “This strategic partnership will help Viva to further expand and develop its operations by allowing additional investment in its network, services and people and most importantly, diversify the funding sources for its operations and expansions, while preserving its financial strength.”
Viva, part-owned by Saudi Telecom (STC), is the smallest of Kuwait’s three mobile operators.
The company completed an IPO in 2008 but has yet to list on the Kuwait stock exchange. It filed for listing in February 2012 but has still not commenced trading.
An analyst told TelecomFinance in October last year that Viva could list after getting financing. “You can’t launch a company without any equity,” he said at the time.
