Bahrain,Tunisia : ABC secures $133m loan for TUNISIANA TELECOM as the sole lead arranger & facility agent [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) The Arab Banking Corporation (ABC), the leading regional bank, has made an announcement on Tuesday to reveal that the entity has become the lone lead arranger and facility agent for a five-year term loan worth TND 220 million ($133 million) for Tunisia s one of the top mobile telecom services providers- Tunisiana Telecom.
ABC has also revealed that it has accomplished the job via its subsidiary ABC Tunisie.
Tunisiana Telecom will utilize the newly secured loan to financially support the enrichment strategy for its 3G network services and the introduction of landline business.
The loan process has seen involvement of four other banking institutions as well.
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, stated Managing Director & CEO of ABC Tunisie - Ali Kooli on the new pact.
The ABC Global Head of Corporate and Structured Finance - Graham Scopes has emphasized 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, a major player in the banking sector of the region, delivers pioneering wholesale financial products and services, comprising corporate banking, trade finance, project and structured finance, syndications, Islamic banking plus treasury products and services. The entity also offers retail banking services via its retail bank network in the MENA region.
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