Zain Group, the pioneer of mobile telecommunications across the Middle East and Africa, announces the successful closing of a $800m 5-year amortizing syndicated revolving credit facility (the “Facility”). The facility is for general corporate purposes.
The Facility, which was initially planned for $600m was upsized to $800m following an exceptionally strong response from banks. A total of 11 lenders participated, illustrating the high level of support for Zain Group among the regional and international financial community.
Al Khalij Commercial Bank (al khaliji) Q.S.C, Arab Bank PLC, Arab Banking Corporation (B.S.C.), The Bank of Tokyo-Mitsubishi UFJ, LTD., Crédit Agricole Corporate and Investment Bank, National Bank of Abu Dhabi PJSC – Kuwait Branch, National Bank of Kuwait, Natixis, Samba Financial Group, The Royal Bank of Scotland plc and Union National Bank PJSC acted as Arrangers of the Facility.
Crédit Agricole Corporate and Investment Bank also acted as Coordinator and is the Facility Agent.
Commenting on the facility, Zain Group CEO Scott Gegenheimer said: “The response to this facility is a testament to Zain’s strong relationships with the banking community, and their confidence in the company’s financial health and future business plans.”
Zain Group Corporate Communications
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Tuesday, March 4- 2014 @ 13:31 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.