HiTS Telecom inks USD43m loan with Global Emerging Markets

6 Dec 2011

Kuwait-based telecommunications provider HiTS Telecom Holding Company has secured a USD43 million loan with Switzerland-based Global Emerging Markets Ltd, for the repayment of debt, the company has said. In an e-mailed statement, HiTS Telecom confirmed the debt will be repaid in cash or equity over a five-year period, and will see the Swiss group becoming a strategic investor in HiTS.

In November 2010 HiTS Telecom’s African investment vehicle raised its equity stake in Liberian mobile operator Atlantic Wireless (Libercell) from 30% to 55%, in a deal worth USD17 million.

Kuwait, Liberia