Du inks Dhs4.3bn financing deals

March 5, 2014 12:59 am


The UAE’s second telecoms operator, Emirates Integrated Telecoms Co (du) has secured $1.17bn (Dhs4.3bn) from three separate financing deals to refinance existing debt and secure additional financing, Gulf News has reported. “We have taken the opportunity of the historical low interest rate environment to refinance some of our existing debt and have been able to negotiate very favourable terms, strengthening our balance sheet further,” said the chief executive of Du, Osman Sultan. “In addition, as we continue to roll out our data offerings, we have secured additional financing for our capital expenditure programme, again at very competitive rates,” he said.

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