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Nawras Signs New Financing Agreement of USD 182 Million (OMR 70 Million)
 
 
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Muscat, Omani Qatari Telecommunications Company SAOG – Nawras, signed a new financing agreement worth USD 182 million (OMR 70 million) with a five-year tenure, for capital expenditure and working capital requirements. The consortium for new financing consists of DBS Bank Ltd.- Dubai Branch, HSBC Oman, Mizuho Corporate Bank, Ltd., and Qatar National Bank S.A.Q. The facility agent for this financing is Qatar National Bank S.A.Q.

Muscat, 22 Jan 2013 - Nawras has commenced turbocharging of its network in order to increase speed, capacity and provide wider coverage to give customers a more rewarding experience. The programme includes increased 3G+ capacity offering doubled speeds and greater coverage, launching 4G LTE services as well as new network footprint. This programme of future proofing our network shall be partially financed by this new facility.

Jorgen Latte, Chief Financial Officer, Nawras said: “There had been a huge interest from both local and foreign banks in our new facility. With its clear vision and strategy, Nawras attracts many banks who want to participate and support our strategic targets. The strong commitment of the international banks in this new facility also reflects the strength and trust in the Omani economy and Nawras as one of its key flagship companies.”

Posted on: Jan 22 2013


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CategoryDescription
Telecommunications
 
http://www.nawras.om
Country: Oman

Omani Qatari Telecommunications Company SAOG was founded and registered in the Sultanate of Oman in December 2004. It launched its service in March 2005 as the second mobile operator in Oman operating under the name "Nawras". Nawras was awarded the second fixed licence in Oman in 2009, and launched its international gateway in April 2010, its corporate fixed and broadband services in May 2010, and its residential fixed and broadband services in June 2010. Nawras is currently serving more than 2 million mobile customers across the Sultanate. Following a successful IPO, Nawras is listed on the Muscat Stock Market (MSM) under the "nwrs" ticker since 1 November 2010. Nawras is majority owned by the Qtel Group, a leading global telecommunications group, with presence in 17 markets and a customer subscriber base of more than 68 million. Nawras also has a number of significant Omani shareholders which ensures that the company is strongly integrated into the Omani society. Nawras has won a number of awards including Best Employer Asia 2010, Leader in Communications 2010, Customer Service Provider of the Year 2010, and Middle East Mobile Operator of the Year 2007.

For further information please contact:
Julie Amann
Press Manager
e-mail: julie.amann@nawras.om
+968 9510 3669







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