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Thuraya Secures New Financing

By | July 11, 2007

      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.

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