|
|
Article: etisalat signs agreement with 22 banks.(Line of Credit agreement)
- Article from:
- Middle East
- Article date:
- July 17, 2006
CopyrightCOPYRIGHT 2006 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Emirates Telecommunications Corporation- etisalat- has signed an agreement with a syndicate of 22 local, regional and international banks, which gives the Corporation US$3bn as part of a Revolving Line of Credit agreement announced last month.
The agreement was signed by Mohammed Hassan Omran, Chairman of etisalat, and Cyrus Ardalan, Vice Chairman, Barclays Capital, who represented the syndicate. The signing ceremony was attended by Mohamed Al Qamzi, etisalat CEO, and senior representatives from the syndicate banks.
This agreement comes in line with the international expansion strategy of etisalat, and provides etisalat with a multipurpose facility that ...