(MENAFN) UAE-based Etisalat plans to raise USD 2bn loan despite the telecommunications firm having the funds confirmed with a group of regional and global banks.
Furthermore, the firm was amid a number of local firms which would secure funding in current months on the expectation that higher U.S rates would push up.
The company was seeking a three-year loan which would be planned as a revolving credit facility and used as a back-up line of credit.
Additionally, a group of 10 regional and global banks confirmed to fund the USD 2bn amount, with both sources stating the loan was due to close shortly.
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