Etisalat Egypt secures $1.3bn loan

Cairo, May 10, 2010

The Egyptian unit of Abu Dhabi's Etisalat will borrow EGP7.2 billion ($1.3 billion) from a group of three banks, a statement from the unit said on Monday.

The funds will come from National Bank of Egypt, Banque Misr and National Bank of Abu Dhabi, the unit's chief financial officer Ehab Rochdy said in the statement, adding the funds would be used for expansion and to improve services.-Reuters

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