Ooredoo signs $1bn revolving credit facility
09 Jun 2016 - 0:58
DOHA: Ooredoo yesterday announced the signing of a new $1bn Revolving Credit Facility Agreement (RCF).
The agreement was executed between Ooredoo as the borrower and Qatar National Bank, Australia and New Zealand Banking Group, Bank of America Merrill Lynch International Ltd, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Citibank, London Branch, DBS Bank Ltd, HSBC Bank Middle East Ltd, Mizuho Bank, Ltd as arrangers. Qatar National Bank will act as the Facility Agent.
The tenor of the facility is six years and it will be used for general corporate purposes including the refinancing of a $1bn RCF maturing in March 2017.
Sheikh Saud bin Nasser Al Thani, Chief Executive Officer, Ooredoo Group, said, “This new credit facility demonstrates the high level of confidence that the banks have in Ooredoo’s strategy and our solid performance. The new facility gives us full flexibility for the execution of our funding strategy. We do highly appreciate the strong support and trust of our long term banking partners.”