Wednesday, 21 March 2018 11:09 GMT

Mobily signs USD560m agreement for equipment

(MENAFN) Saudi Arabia's Mobily has signed an export credit agency agreements at USD560 million for the purchase of equipment from Nokia Siemens Networks and Ericsson, Arabian Business reported

The agreements included a USD280 million with the Swedish Export Credits Guarantee Board, while the rest were with Export Credit Agency of Finlan

The agreements signed have a tenor of 10 years and will be used over a year and a half

The company will repay the loans, which have a fixed interest rate of 2.4 percent a year, in 17 semi-annual equal installments

Mobily signs USD560m agreement for equipment

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