Zain Group secures USD250m loan to finance operations

8 Apr 2014

Kuwait-based telecoms company Zain Group has secured a USD250 million four-year Islamic loan from a syndicate of three Gulf banks: lead lender Boubyan Bank, Kuwait International Bank and Qatar Islamic Bank. According to a press release, the money will be used to meet Zain Group’s ‘operational and expansion financing needs’.

TeleGeography notes that the notice comes hot on the heels of a previous announcement in March 2014 that Zain Group had secured a five-year USD800 million revolving credit facility to meet its ‘general corporate’ funding requirements with lenders named as: Al Khalij Commercial Bank, Arab Bank, Arab Banking Corporation, the Bank of Tokyo-Mitsubishi UFJ, Credit Agricole Corporate and Investment Bank, National Bank of Abu Dhabi, National Bank of Kuwait, Natixis, Samba Financial Group and the Royal Bank of Scotland.

Kuwait, Zain Group