Zain Group secures $250m loan to finance operations
Kuwait’s incumbent finalises deal with Gulf-based syndicate
Kuwait-based telecoms provider Zain Group has secured a four-year $250m Islamic loan facility to meet “operational and expansion financing needs”.
A syndicate of three Gulf banks will provide the funding. Lead financier will be Boubyan Bank, while Kuwait International Bank and Qatar Islamic Bank will also make loans.
In March 2014 Zain Group secured a five-year $800m cycling credit facility to meet its “general corporate” funding requirements. Lenders in that deal were Al Khalij Commercial Bank, Arab Bank, Arab Banking Corporation, 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.