Published: May 23, 2013
African subsidiary of UAE’s Etisalat receives US$1.2bn from 13 local banks.
Etisalat Nigeria, a division of UAE-based telecoms group Etisalat, has struck a US$1.2bn syndicated loan.
The loan comes from 13 Nigerian banks and includes dollar and naira tranches..
The company will use the funds to repay US$650mn of existing debt as well as continuing to grow its network in Nigeria.