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
39.0
0.57 1.48 (%)
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
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of Talabat.com to Germany’s Rocket Internet for...

What's behind modern spaceship design?

What's behind modern spaceship design?

A fleet of privately owned vehicles is set to challenge NASA...

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Experts have put the vital industry on high alert as the threat...

Most Discussed
  • 16
    Nakheel PR: The toughest job in Dubai?

    @John...I actually laughed out load at that comment! Having said that..I still believe DAMAC hold the mantal for 'Redefining Trust'... more

    Sunday, 29 March 2015 6:06 PM - Simon
  • 8
    Post traumatic stress?

    I once had a Emirates Post employee hang up on me when I asked her to repeat something. That said, the worst is my management company, Kingfield Management... more

    Sunday, 29 March 2015 6:07 PM - Sarah
  • 2
    Dubai Int'l T1 is too congested, says Indian airline boss

    i am also obliged to travel through Dubai Airport (DXB) in the past and hopefully not in the future. Definitly Mr. Mevlin is absolutly right. The conditions... more

    Sunday, 29 March 2015 6:06 PM - Michael
  • 16
    Nakheel PR: The toughest job in Dubai?

    @John...I actually laughed out load at that comment! Having said that..I still believe DAMAC hold the mantal for 'Redefining Trust'... more

    Sunday, 29 March 2015 6:06 PM - Simon
  • 14
    Has Narendra Modi already lost the plot?

    Gaja - Anil is RIGHT this once! Modi stands for anarchy. Look at the way he is treating the minorities. Do you even for a second believe that he is innocent... more

    Sunday, 29 March 2015 1:42 PM - Ann
  • 8
    Post traumatic stress?

    I once had a Emirates Post employee hang up on me when I asked her to repeat something. That said, the worst is my management company, Kingfield Management... more

    Sunday, 29 March 2015 6:07 PM - Sarah