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FINANCIAL NEWS
UAE’s du gets USD1.17 b loan
04 Mar 2014
(MENAFN) UAE telecommunications firm du has received a USD1.17 billion loan in three deals to fund equipment purchases, according to the Emirates 24/7.
The company has already made a deal worth USD720 million reported in February and agreements with two banks to refinance existing loans.
du said: “The move lowers the company’s funding costs, saving approximately $9 million over the term of the loan due to the favourable margins agreed with the banks involved.”
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