Nawras signs two more credit facilities

Nawras signs two more credit facilities

Omani telco Nawras has signed two additional bilateral revolving credit facility agreements totalling $51.8 million with a three-year tenure.

The investments will be used by the operator, which is majority owned by Qtel, for capital expenditure and working capital purposes.

HSBC Bank Oman and Qatar National Bank Oman were selected following a competitive selection process including 24 national and international banks.

The move follows a $182 million financing deal signed by Nawras last month to partly finance its network investment programme aimed at increasing the speed, capacity and coverage of its network.

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