Zain Group secures USD800m credit facility

4 Mar 2014

Kuwait-based telecoms company Zain Group has secured a five-year USD800 million revolving credit facility to meet its ‘general corporate’ funding requirements, it has announced. The mandated lead arrangers, responsible for the structure, organisation and execution of the syndicated loan, were Al Khalij Commercial Bank, Arab Bank, Arab Banking Corporation, the 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. Credit Agricole Corporate and Investment Bank acted as joint coordinators, while Investment Bank also operated as facility agent, supporting the administration and servicing of the syndicated loan facility.

According to the company’s latest financial results, covering the twelve months ended 31 December 2013, Zain Group generated revenues of KWD1.24 billion (USD4.4 billion), down by 3.9% from KWD4.58 billion reported in 2012. EBITDA for the period under review reached KWD538.0 million, while the company booked a net profit of KWD216.4 million in 2013, a 14.1% decrease on the KWD252.1 million reported twelve months earlier.

Kuwait, Zain Group,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share