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Du signs $100m financing deal with StanChart

Dubai, January 2, 2013

Dubai's Emirates Integrated Telecommunications (du) has signed a $100 million financing deal with Standard Chartered to shore up liquidity, the company said on Wednesday.

The financing, and other debt facilities secured recently, would give the firm flexibility to fund future growth of its business, du said in a statement on Dubai's bourse.

The statement did not provide terms such as pricing for the deal or when it matures.

In December, the company secured a $500 million club debt facility and signed a $100 million three-year loan facility with Singapore's DBS Bank. – Reuters




Tags: du | Dubai | Telecom | Standard Chartered | Financing |

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