Du borrows $1.17bn to fund equipment and refinance debt | The National:
"Dubai-based telecoms operator du has secured a $1.17bn loan in three separate deals to refinance existing debt facilities. The company is looking to save $9m in total with the new package.
The deal includes a $720m package from Abu Dhabi Commercial Bank (ADCB), National Bank of Abu Dhabi (NBAD) and Saudi Arabia’s Samba Financial Group. This five-year facility will be used to replace two existing debt facilities.
Du has also secured a $300m five-year loan from the UK’s Standard Chartered Bank to fund equipment purchases. It includes the refinancing of the existing £100m (Dh611.1m) facility held with the bank plus an additional $200m of new facilities."
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