Saudi telco Mobily signs for SR2bn credit facility

Loan administered by Alinma Bank, according to bourse statement

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Saudi telco Mobily signs for SR2bn credit facility
By  Staff Writer Published  December 20, 2016

Saudi Arabia's Etihad Etisalat (Mobily) has signed to obtain a SR2 billion ($533 million) credit facility from Alinma Bank, the telecommunications operator said in a bourse statement, as reported by Reuters.

The facility is unsecured, and proceeds will be used to fund existing and future operating and capital expenditures, the statement said.

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