Saudi Mobily refinances $400m loan
Riyadh, October 11, 2009
Saudi mobile operator Etihad Etisalat (Mobily) said on Sunday it would refinance a 1.5 billion riyal ($400 million) Islamic loan over a four-year period.
A statement on the Saudi bourse website said the short-term loan, taken out in 2008 to finance Mobily's acquisition of Bayanat al-Oula, would be transferred to a medium-term loan.
It named the banks involved as Samba Financial Group, National Bank, Riyad Bank and the Sabb, HSBC's Saudi affiliate.-Reuters
More IT & Telecommunications Stories
- Huawei sees 4G revenue double to $4bn in 2014
- Govts must design hitech apps to woo citizens
- UAE to launch mobile number portability Sunday
- Batelco offers automatic bill payment
- Etisalat unveils business solutions for SMEs
- Top honours for Nawras female engineer
- Bahrain TRA showcases services at expo
- Mobily to review IT trends
- Du offers special roaming rates
- Etisalat completes first phase of key IT project