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
More IT & Telecommunications Stories
- Etisalat unveils 100 MB data for prepaid users
- Du backs UAE entrepreneurs unit
- Aruba names new EMEA vice president
- Survey to measure UAE mobile radiation levels
- Zain Bahrain on track to launch new network
- Microsoft assures foreign customers on spying
- Batelco wins ‘telecom deal’ award
- Samena summit focus on telecom issues
- US firm offers IT security software for SMBs
- US firm supplies biometric software to Saudi