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Article: i2 and Mashreqbank sign credit facility.

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Middle East
Article date:
November 15, 2006
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i2 announced today the signing of an AED 219 million one year Credit facility with a syndicate of leading regional banks led by Mashreqbank. The agreement was signed by Mr. Abdul Aziz Al Ghurair, Chief Executive Officer, Mashreqbank and Abdul Hameed Al Sunaid, president and CEO, i2. The facility was taken by the leading mobile provider in the region to finance their aggressive expansion efforts as the authorized distributor for Nokia in the Middle East and Africa.

With i2 assuming a leading role in Nokia's new strategy for 2007, the company aims to drive sales of Nokia products throughout the Middle East and Africa. Therefore, i2 approached the syndicated loan ...

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