Kuwait-based Zain has approached several banks about obtaining a five-year revolving facility to replace an US$867m existing revolver, according to Reuters citing banking sources.
The operator has reportedly invited banks to take part in the transaction…
Kuwait-based Zain has approached several banks about obtaining a five-year revolving facility to replace an US$867m existing revolver, according to Reuters citing banking sources.
The operator has reportedly invited banks to take part in the transaction and has asked for advice.
The current facility, which expires in March, was part of a US$1.3bn facility which Zain secured in 2011 from a consortium of 15 banks. BNP Paribas, Credit Agricole, NBK and Standard Chartered were bookrunners and MLAs at the time.
Zain was not immediately available to comment on the report.
The company, which is Kuwait’s largest operator, is present in several Middle Eastern countries. Its CEO Scott Gegenheimer said last year the group was looking to bolster its presence in the North African market.
