Ooredoo signs a new USD 200m Term Loan Agreement with KFW IPEX-Bank

22 July 2018 . Global

Doha, Qatar, 22 July 2018: Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker ORDS - announced today that it has signed a new USD 200 million Term Loan Agreement for a 5 year period with KFW IPEX-BANK GMBH , Frankfurt, a state owned German Bank.  The loan will be used to fund Ooredoo’s capital investment program sourced from European supply chain partners.

 

Sheikh Saud Bin Nasser Al Thani, Ooredoo Group CEO, commented:  “Ooredoo and KFW IPEX-Bank have been business partners for a long time and we are delighted to strengthen our relationship further.  We will use the loan to fund our ambitious investments programs using network equipment. This further supports our strategy towards digitization and enhances the digital life of our customers across the group”.

 

About Ooredoo

Ooredoo is an international communications company operating across the Middle East, North Africa and Southeast Asia.  Serving consumers and businesses in 10 countries, Ooredoo delivers the leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks.

Ooredoo generated revenues of QAR 33 billion as of 31 December 2017. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.

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