ABC arranges $133 million loan for Tunisiana Telecom [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) The Arab Banking Corporation (ABC) announced today (17 September) it has been mandated, through its subsidiary ABC Tunisie, as the sole lead arranger and facility agent for a TND 220 million ($133 million) five-year term loan for Tunisiana Telecom, one of the largest mobile telecommunication companies in Tunisia.
Four other banks have participated in the loan, which will be used to finance the enhancement of Tunisiana's 3G network and the launch of landline business.
Commenting on the signing of the loan agreement, Ali Kooli, Managing Director & CEO of ABC Tunisie, said, "We are very pleased that ABC has been selected to arrange this loan for Tunisia's leading mobile operator. ABC has been a lead banker to Tunisiana Telecom since its inception in 2002. This transaction reflects clients' confidence in ABC and our strategy that aims at expanding the delivery of banking services to top corporations, as well as our commitment to Tunisia."
Graham Scopes, ABC Global Head of Corporate and Structured Finance, stressed that "the appointment of ABC to lead arrange this important transaction comes as a reward for its long commitment to the Tunisian market for more than 30 years. During this period ABC offered its clients credible and professional products and services and provided international expertise and deep understanding of their local needs, in addition to the support of ABC's network of subsidiary banks and the MENA region."
ABC is a leading player in the region's banking industry and provides innovative wholesale financial products and services that include corporate banking, trade finance, project and structured finance, syndications, Islamic banking as well as treasury products and services. It also provides retail banking services through its network of retail banks in the MENA region.
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