NSN has again helped Mobile KSA in securing a 280 mn USD credit for expanding its network. Mobile KSA will use this funding for buying network services and solutions from NSN. NSN has done vendor financing to Mobily KSA in past as well and its total financing has become 605 mn USD.
- Additional 280 mn USD syndicated loan is backed by Finnvera and Finnish Export Credit
- Second funding agreement with NSN within a year to finance investments
Mobily (Etihad Etisalat Company), a leading telecom operator in Saudi Arabia, has taken another major initiative* to accelerate the expansion and modernization of its 4G LTE, 3G and 2G networks between 2014 and 2016. To this effect, Khalid Al-Kaf, CEO of Mobily, has signed a Memorandum of Understanding (MoU) with Rajeev Suri, CEO of Nokia Solutions and Networks at the Mobile World Congress in Barcelona, Spain. As per the MoU, NSN will facilitate an additional long term export credit of 280 mn USD with Finnvera, Finnish Export Credit (FEC), and lenders Credit Agricole, Deutsche Bank and Societe Generale. This credit will help Mobily purchase advanced solutions and services from the world’s specialist in mobile broadband, NSN.