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
37.4
0.63 1.71 (%)
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 Popular
Most Discussed