Ooredoo signs new financing agreement of USD 177 Million (OMR 68Million)

Press release
Published January 14th, 2016 - 10:13 GMT

Ooredoo has signed 3 new financing agreements with local and international banks worth USD 177 million (OMR 68 million). The new funding will be used for general corporate purposes and will underpin continued investment in the Company’s network and ongoing enhancement of services for the Company’s growing business and consumer customers.

The Company’s ability to secure the new financing facilities is reflective of the Company’s strong balance sheet, positive brand equity and excellent market performance.  As the Company’s customer base continues to grow, thanks to inspiring and innovative products and services, so too, does their strong relationship with both local and international banks.

The Company has spent in excess of OMR 124m solely in network modernisation over the last three years and this has resulted in population coverage growing to approximately 99%.

Commenting on the agreement, Jorgen Latte, Chief Financial Officer at Ooredoo said: “There has been huge interest from both local and foreign banks in our new facility. With our clear vision and strategy, Ooredoo attracts many banks who want to participate and support our strategic ambitions.”

Background Information

Ooredoo

We are on a mission to empower customers across our global footprint to access and enjoy the best of the Internet in a way that is personal and unique to them.

We continue to invest in our networks to ensure seamless connectivity that caters to our customers’ growing digital needs.

We are working as a real digital enabler across our markets and our aspiration is to help people simplify their lives and enjoy exciting and rewarding digital experiences.

PR Contact

Contact Name
Emily Shotter
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