Seventeen banks subscribe to Dh3 billion du loan

As many as 17 regional and international banks have subscribed to Dh3 billion loan which was raised by the UAE-based second telecom operator du.

Emirates Business yesterday reported that the telecom firm would announce the deal on Sunday.

The deal represents the debut debt offering for the telecom operator – a three-year facility that will help finance du's mobile and fixed network expansion. Mashreq and WestLB AG acted as Mandated Lead Arrangers and Bookrunners. The banks who joined the syndication are Arab Bank for Investment and Foreign Trade; First Gulf Bank; National Bank of Abu Dhabi; Royal Bank of Scotland plc; Abu Dhabi Commercial Bank; Export Development Canada; Invest Bank; Samba Financial Group, Dubai branch; Arab African International Bank; Arab Bank; British Arab Commercial Bank; Bank Sohar; Chang Hwa Commercial Bank; Union National Bank and Banque Misr.