UAE telecom firm repays first borrowing from 2008
UAE telecommunications company Du has paid off a AED3bn ($817m) loan as part of its plans to make better use of its financial resources. The company repaid the facility at maturity on 30 June.
The deal was Du’s first debt offering in 2008 and was used to finance the build out of its network in the UAE. In early June, Du closed a new $220m loan that it said would be used to repay debt.
Shares in the company rose 2.89 per cent on 3 July after the announcement was made.
You might also like...
Iraq signs deal to develop the Akkas gas field
25 April 2024
Emaar appoints beachfront project contractor
25 April 2024
Acwa Power signs $356m Barka extension
25 April 2024
AD Ports secures Angola port concession agreement
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.