Nawras secures $51m loan

Omani telco signs revolving credit facilities for capex requirements
Nawras signs revolving credit facility


Omani telecom operator, Nawras, has signed two additional bilateral revolving credit facility agreements totalling OMR 20 million ($51.9m) with three-year tenure, for capital expenditure and working capital purposes.

The additional bilateral revolving credit facility agreements with HSBC Bank Oman S.A.O.G and Qatar National Bank S.A.Q Oman follow a competitive selection process that included 24 national and international banks, the telco said in a statement.

In January, Nawras signed a financing agreement worth $182 million with a five-year tenure, for capital expenditure and working capital requirements.

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