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FINANCIAL NEWS
Dubai’s OSN signs USD400m five-year loan
07 Sep 2015
(MENAFN) Dubai-based pay-television company OSN signed a USD400 million five-year loan with 11 regional and international banks to fund the expansion of its content and the developing of its technology.
The deal is split into two parts, the first one is a USD255 million term loan and the second is a USD145 million revolving credit facility, which is twice covered by subscriptions from banks.
The loaners included Barclays, BNP Paribas and Mashreq, with National Bank of Kuwait, Citigroup, Commercial Bank of Dubai, First Gulf Bank, HSBC, Soci”t” G”n”rale, JP Morgan and Credit Suisse.
It’s worth mentioning that OSN operates subscription television services across the Middle East and North Africa, and owned by Kuwait Projects Company (KIPCO) and Saudi Mawarid Group.
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