Archives

Home

Media Center

Financial News

04-03-14

UAE's du gets USD1.17 b loan

(MENAFN) UAE telecommunications firm du has received a USD1.17 billion loan in three deals to fund equipment purchases, according to the Emirates 24/7. The company has already made a deal worth USD720 million reported in February and agreements with two banks to refinance existing loans. du said: "The move lowers the company's funding costs, saving approximately $9 million over the term of the loan due to the favourable margins agreed with the banks involved."