Warid agrees funding for Ericsson GSM expansion

7 Nov 2006

Pakistani mobile operator Warid Telecom has agreed a USD500 million loan facility to fund the expansion of its GSM network, according to the Daily Times. ABN AMRO Bank and Standard Chartered Bank were the lead arrangers of the deal, which is predominantly being supported by the Swedish Exports Guarantee Board (Exportkreditnämnden).

According to TeleGeography’s GlobalComms database, in September Warid contracted Ericsson to expand its GSM network and provide capacity for an additional ten million subscribers. Under the terms of the USD274 million deal, Ericsson is deploying its Mobile Softswitch solution, as well as radio, transmission and packet core network equipment, to expand Warid’s GSM network in existing and new cities.

Pakistan, Warid Telecom (Jazz)