Warid Telecom gets $500 million loan

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Warid Telecom gets $500 million loan

November 15, 2006

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Warid Telecom, part of the Abu Dhabi Group, has sealed a $500 million financing agreement with Standard Chartered Bank and ABN Amro, backed by Sweden's Export Credit Agency. The loan will finance the company's GSM network expansion in Pakistan and also facilitate Warid's rollout into more cities in the country. This is the largest cross-border capital expenditure related to telecom debt financing in Pakistan apart from being the single largest EKN-backed telecom financing in Pakistan, the Middle East and Asia.