Kuwait-based telco Zain Group has signed a US$1.3bn syndicated loan, a spokesperson confirmed. Details on the terms and banks would be released next week, he said.
This is a renewed effort at securing a US$1.2bn loan, first mooted in September, before…
Kuwait-based telco Zain Group has signed a US$1.3bn syndicated loan, a spokesperson confirmed. Details on the terms and banks would be released next week, he said.
This is a renewed effort at securing a US$1.2bn loan, first mooted in September, before Etisalat’s US$11.7bn offer to acquire 46% of the company became official.
That transaction was not expected to take the form of Islamic financing, and was due to refinance existing debt.
Zain last repaid debt, a loan worth US$4bn, after selling its African assets to India’s Bharti for US$9bn.
BNP Paribas and Calyon have arranged debt deals for Zain in the past.
