UAE-based telco Warid Telecom has secured a USD60 million syndicated loan from more than 20 banks and financial institutions in Bangladesh to support its planned USD460 million telecoms project in the country. The lead arranger for the deal is Industrial Infrastructure Developing Finance Company (IIDFC). Warid Telecom will reportedly secure USD45 million from conventional banks and USD15 million from Islamic banks. The six-year facility will be used to finance the operator’s projects in Bangladesh that include GSM and fibre-optic network rollouts. Warid Telecom secured a licence for mobile telephony in Bangladesh late last year for USD50 million.
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