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Saudi telco Mobily signs for 2 bln riyal credit facility
December 20, 2016 / 6:36 AM / a year ago

Saudi telco Mobily signs for 2 bln riyal credit facility

DUBAI, Dec 20 (Reuters) - Saudi Arabia’s Etihad Etisalat (Mobily) has signed to obtain a 2 billion riyal ($533 million) credit facility from Alinma Bank, the telecommunications operator said in a bourse statement on Tuesday.

The facility is unsecured, and proceeds will be used to fund existing and future operating and capital expenditures, the statement said. (Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)

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