Etisalat Nigeria signs $1.2bn refinancing loan
Dubai, May 21, 2013
Etisalat's Nigeria affilate has signed a $1.2 billion refinancing loan with 13 Nigerian banks, the United Arab Emirates' leading telecom operator said on Tuesday.
The medium-term facility will be used to refinance an existing $650 million loan and bolster Etisalat Nigeria's network, Etisalat said in a statement to the Abu Dhabi bourse.
Etisalat owns a 40 percent stake in its Nigeria affiliate, which is formally known as Emerging Markets Telecommunications Services Ltd (EMTS).
EMTS will acccount for 3.7 percent of Etisalat's revenue in 2013, HSBC forecasts in a research note. – 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