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Tue 20 Dec 2016 11:49 AM

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Saudi telco Mobily signs for SR2bn credit facility

Loan administered by Alinma Bank, according to bourse statement

Saudi telco Mobily signs for SR2bn credit facility

Saudi Arabia's Etihad Etisalat (Mobily) has signed to obtain a SR2 billion ($533 million) credit facility from Alinma Bank, the telecommunications operator said in a bourse statement on Tuesday.

The facility is unsecured, and proceeds will be used to fund existing and future operating and capital expenditures, the statement said.

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