Wataniya offered USD1bn credit facility

Kuwaiti telco Wataniya Telecom has secured funding of USD1 billion from European, Asian and Middle Eastern banks to finance its international expansion, under a three-year deal which includes an option to extend for a further two years. Wataniya is Kuwait’s second largest cellular operator and has overseas interests in Algeria, Tunisia, Iraq, Saudi Arabia and the Maldives. It has also been linked with a number of investment opportunities in other markets.