Viva looking for USD400m loan

The Kuwaiti cellular operator Viva, which is part-owned by Saudi Telecom Company (STC), is reported to be seeking loans totalling USD400 million to help finance its continued expansion. According to a report from the Gulf Times, which cites unnamed banking sources, Viva has approached several lenders to gauge interest but has yet to mandate any banks for the syndicated loan facility. Viva, which is Kuwait’s third largest cellco by subscribers behind Zain and Wataniya, has not commented on the reports.