HSBC, NBAD Grant Etisalat Egypt US$120mn Loan

Etisalat Egypt signed US$120 million agreement with HSBC and National Bank of Abu Dhabi (NBAD). The company will get $60 million from each bank, to be repaid on 3 years.

Etisalat Egypt asserted that it seeks to provide services to live up to customers’ aspirations, and suits the company’s advanced position on the telecommunications enterprises in Egypt.

Etisalat Egypt CEO Saeed Al Hamli said this cooperation comes in the frame strategy of the company which aims to keep pace with the technological development in communications field.