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UAE’s Etisalat signs 3.15 billion euro loan for Maroc Telecom buy

28
Apr
2014

By Matt Smith DUBAI (Reuters) – Abu Dhabis Etisalat has signed a two-part 3.15 billion euros ($4.36 billion) facility to help fund its acquisition of a 53 percent stake in Maroc Telecom, the Gulf telecom operator said in a bourse statement on Monday. The bulk of the facility is a 2.1 billion euro one-year bridge loan, which is priced at EURIBOR plus 45 basis points for the first six months. This then increases by 15 basis points in each of the following three months. The second tranche is a 1.05 billion three-year loan priced at 87 basis points above EURIBOR.

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