STC repays 90 pct of its loan| MENAFN.COM

Sunday, 07 August 2022 11:07 GMT

STC repays 90 pct of its loan

(MenaFn) Sources said that Saudi Telecom Company (STC) planned to repay 90 percent of its loan to its creditors, including HSBC Holdings, Deutsche Bank and Citigroup, of about USD1.2 billion, according to Gulf Daily News. STC will sell its 8-percent share in its Indonesian unit Axis Telekom to repay the loan to its creditors in order to avoid potential losses of USD600 million. Axis, XL, Axiata's chief executive Hasnul Suhaimi said: "Not yet, we're still in the negotiation process," answering a question about the sale agreement.

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