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Article: Mashreqbank & WestLB announce successful closure of AED 3 billion syndicated loan facility for du
- Article from:
- Al Bawaba
- Article date:
- July 27, 2008
CopyrightCopyright 2008 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Mashreq and WestLB AG, acting as Mandated Lead Arrangers and
Bookrunners today announced the successful closure of an AED 3
billion syndicated term loan facility for leading telecoms provider,
du (Emirates Integrated Telecommunications Company PJSC).
The deal represents the debut debt offering for the UAE's second
telecommunications operator a three year facility that will help
finance du's mobile and fixed network expansion.
Mr. Osman Sultan, CEO, du said "With the global credit markets
all experiencing significant pressure, we are especially pleased to
see the level of international and regional participation into this
syndication which shows the confidence that has been placed by the ...