MTC signs $4bn loan

28 July 2006

Local telco MTC has signed a $4,000 million, five-year revolving loan agreement, lead arranged by BNP Paribas, Calyon, Credit Suisse First Boston and UBS. The margin is 85 basis points over Libor.

Joining at the mandated lead arranger (MLA) level were: Arab National Bank, Barclays Capital, Citigroup, National Bank of Kuwait, Qatar National Bank, Royal Bank of Scotland, Samba Financial Group and Sumitomo-Mitsui Banking Corporation.

The lead arrangers were: ABN Amro, Arab Bank, Bank of Tokyo-Mitsubishi UFJ, Banque Saudi Fransi, Gulf International Bank, National Bank of Abu Dhabi, Standard Bank and WestLB.

The arrangers were: Arab Banking Corporation, Bayerische Landesbank, Deka Bank, Mizuho Financial Group and Natexis Banques Populaires.

The co-arrangers were: Bank of Kaohsiung, Bank of Kuwait & the Middle East, Bank of Overseas Chinese, Bank of Taiwan, Chiao Tung Bank, Doha Bank, E.Sun Bank, First Commercial Bank, Hua Nan Commercial Bank, IKB Deutsche Industriebank, International Bank of Taipei, Mashreqbank and Taiwan Co-operative Bank.

The funds raised will be used to finance MTC's international expansion drive, which includes moves into Iraq and Nigeria (MEED 9:6:06).

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