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22-01-14

Kuwait's Zain eyes multi-million loan provider

(MENAFN) Kuwait's Zain is seeking banks for multi-million loans as it is raising money before an existing USD867 million debt-facility matures, according to Arab News. Zain spokesman said: "Zain is often discussing potential new loans to finance possible expansion opportunity purposes and general corporate needs, as well as trying to refinance existing loans at better rates and conditions for the group and its operations." Two banking sources said that the five-year loan will be a revolving facility.