Etisalat seeking over $9bn of debt in funding for Zain Bid

14 October 2010

Etisalat plans to borrow more than $9bn to buy shares in Kuwait's Zain, Bloomberg has reported, citing three bankers familiar with the deal. The financing, which would be the largest acquisition loan by a company in the Middle East and Africa since at least 1999, may take the form of a short-term bridge loan that will be replaced with longer-term financing, said the bankers, who declined to be identified as the discussions are private.

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