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Kuwait Zain telecom secures $800m loan facility

Kuwait City: Kuwaiti telecoms giant Zain said on Tuesday it has secured a syndicated revolving credit facility of $800 million (Dh2.9 billion, €580 million) from 11 international and regional banks for general corporate use. France’s Credit Agricole Corporate and Investment Bank acted as coordinator and the facility agent for the loan, it said. Other banks who contributed to the loan are Arab Bank, The Bank of Tokyo-Mitsubishi UFJ, National Bank of Abu Dhabi, National Bank of Kuwait, Natixis, Samba Financial Group and The Royal Bank of Scotland.