Batelco Secures Loan To Finance Expansion Ambitions

Bahrain's leading telecoms operator Batelco has secured a US$485mn loan from a consortium of regional and international banks in order to fund its plans to expand in the Middle East and North Africa (MENA) region. The three year loan agreement, led by banking institutions ABC and Standard Chartered, was signed in Bahrain on April 10. A further 14 regional and international banking institutions contributed to the financing, including the Royal Bank of Scotland, the Bank of China and the National Bank of Abu Dhabi.

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