Batelco secures USD485 million loan

11 Apr 2007

To fund the expansion of its integrated communications services in Bahrain and the Middle East region, Bahrain Telecommunications Company (Batelco), has signed an agreement with a consortium of regional and international banks for a USD485 million syndicated loan. Arab Banking Corporation and Standard Chartered are the initial mandated lead arrangers and underwriters for the loan. Batelco Chairman Shaikh Hamad bin Abdulla Al Khalifa said that the loan ‘will enable Batelco to realise its aspirations to grow the company regionally and become an increasingly dominant force in the integrated communications industry in Bahrain and [the region].’

Bahrain, Bahrain Telecommunications Company (Batelco)