Mubasher: Ooredoo on Sunday revealed that it has signed a new five-year loan agreement with KFW IPEX-BANK GMBH, Frankfurt, a state-owned German Bank.
Ooredoo’s new loan amounts to $200 million, the telecom operator said in a statement to the Qatar Stock Exchange (QSE).
The loan will be used to finance Ooredoo’s capital investment programme sourced from European supply chain partners, the company dually-listed the QSE and the Abu Dhabi Securities Exchange (ADX) added.
“We will use the loan to fund our ambitious investments programs using network equipment. This further supports our strategy towards digitization and enhances the digital life of our customers across the group,” stated Ooredoo Group CEO Sheikh Saud Bin Nasser Al Thani.
On 19 May, Ooredoo announced that it would pay the interest for its Global Medium Term Note (GMTN) holders on 31 July, and 16 and 21 August.
By the end of Sunday’s session, Ooredoo’s stock declined 0.97% to QAR 71.30.
