Thuraya Secures New Financing

By | July 11, 2007 | Middle East & Africa, ST Briefs

Thuraya has confirmed details of a new round of financing to fund its mobile satellite services business plans.

The operator signed an agreement to raise $125 million through a syndicated loan facility arranged by Emirates Bank and Emirates Financial Services, along with participation from Commercial Bank of Dubai, Union National Bank and ING Bank.

The syndicated facility replaces a six-month bridge loan arranged in December 2006.

Live chat by BoldChat