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Article: etisalat signs agreement with 22 banks
- Article from:
- Al Bawaba
- Article date:
- July 17, 2006
CopyrightCopyright 2006 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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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 can be used to finance any activity ...