Saudi's Mobily inks $560m deal for new equipment

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Saudi Arabia's Mobily has signed export credit agency agreements worth SR2.1 billion ($560 million) to buy equipment from Nokia Siemens Networks and Ericsson, the telecom operator said in a bourse filing.

The agreements, SR1.05 billion with the Swedish Export Credits Guarantee Board and the remainder with Export Credit Agency of Finland, have a tenor of 10 years and will be used over an 18-month period, Mobily said.

The company, also known as Etihad Etisalat and an affiliate of the United Arab Emirates' Etisalat, will repay the loans in 17 semi-annual equal installments. The loans carry a fixed interest rate of 2.4 percent per annum.

Credit Agricole, Deutsche Bank and Societe Generale were lead arrangers for the loans.

Related:

Market Performance

Etihad Etisalat Company
90.75
0.36 0.4 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
The politics of big data

The politics of big data

The UAE may be one of the fastest adopters of e-government initiatives...

Gateway to a new era

Gateway to a new era

Could Telr be the answer to start-ups’ prayers? The new three...

7 of the best accounting apps

7 of the best accounting apps

Tamara Pupic tracks down some of the best accounting apps on...

1
Most Discussed
  • 8
    Smoke-free Dubai - the big debate

    Surprisingly the only studies that show a negative financial impact of the smoking ban on the hospitality industry are sponsored by tobacco companies ... more

    Wednesday, 27 August 2014 4:19 PM - Telcoguy
  • 7
    UAE teens among the highest for obesity rates

    @MT3, harsh and callous as it may sound nice's analysis is spot on for expats; the impact on us is minimal. Certainly for the locals it is (rather it will... more

    Thursday, 28 August 2014 9:05 AM - Telcoguy
  • 1
    Former Arabtec CEO says wants over AED5 per share

    What make Arabtec worth 35 times earnings? you would get a better return on a bank deposit account. more

    Thursday, 28 August 2014 2:32 PM - john mith