Saudi Arabia's Mobily Secures $200 Million Guarantee for Alcatel-Lucent Purchases
Published on: 1st Jul 2014
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.