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Du secures $720m loan

: Tuesday, February 18 - 2014 @ 11:40

UAE telecoms operator, du has agreed terms on a $720m loan which will be used to replace two existing debt facilities and lower the company’s funding costs, Reuters has reported, citing two banking sources. The five-year loan will be provided by Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and Saudi Arabia’s Samba Financial Group, the sources said. The two facilities to be replaced are a $220m three-year loan which expires in June and a $500m facility raised in late-2012.

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Tuesday, February 18- 2014 @ 11:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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