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Saudi Arabia's Mobily Secures $200 Million Guarantee for Alcatel-Lucent Purchases

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Saudi Arabia's Mobily says that it has signed a USD200 million vendor financing agreement with Canada's export credit agency to buy equipment from Alcatel Lucent.

In a statement, Mobily said that Credit Agricole, Societe Generale and Bank of Tokyo Mitsubishi are lead arrangers on the sharia-compliant facility, which will be repaid in 17 semi-annual installments.

The network equipment purchases will be phased over a two year timeframe.

Export Development Canada provides Canadian exporters with financing, insurance and bonding services, as well as trade and market expertise.

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Tags: mobily  alcatel lucent  Saudi Arabia