Zain secures US$800 million, five-year revolving credit facility

Zain Group has reported finalising a US$800 million, five-year revolving credit facility to support general corporate needs.

The facility, which was initially planned for US$600 million, was upsized to US$800 million following an exceptionally strong response from banks. A total of 11 lenders participated, illustrating the high level of support for Zain Group among the regional and international financial community.

Al Khalij Commercial Bank, Arab Bank, Arab Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Crédit Agricole Corporate and Investment Bank, National Bank of Abu Dhabi –  Kuwait Branch, National Bank of Kuwait, Natixis, Samba Financial Group, The Royal Bank of Scotland, and Union National Bank acted as arrangers of the facility.

Crédit Agricole Corporate and Investment Bank also acted as coordinator and is the facility agent.