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Article: Saudi telco gets Al Rajhi loan for Maxis investment

Article from:
New Straits Times
Article date:
January 9, 2008
Author:
Copyright

Chong Pooi Koon
New Straits Times
01-09-2008
Saudi telco gets Al Rajhi loan for Maxis investment
Byline: Chong Pooi Koon
Edition: Main/Lifestyle
Section: Business Times
Type: Company

AL RAJHI Banking and Investment Corp will provide a 10-year US$450 million (RM1.5 billion) term financing to Saudi Telecom Co (STC) to help finance its investment in Maxis Communications Sdn Bhd.

The deal is the largest corporate financing so far in Southeast Asia for Al Rajhi Bank, which plans to use Malaysia as its base to grow its investment banking business in the region.
The Saudi lender, which started its first overseas branch in Malaysia in late 2006, is eyeing the Islamic financing market in Indonesia, ...

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