Du secures US$270 million financing agreement with NSN

The UAE’s Du has entered into a EUR 200 million (US$270 million) long term credit facility with Nokia Siemens Networks (NSN), in order to finance future network upgrades and expansion.

The agreement is backed by Finnvera, the Finnish Export Credit Agency, and will be provided through Nordea Bank for the purchase of NSN equipment. The vendor is the major supplier to the integrated operator for 2G and core works.

"There is currently a high demand across the UAE for better coverage and capacity and we are very pleased to be able to meet this demand through the supplier agreement with NSN. The new equipment will enable the continued roll out of our 2G network, greatly benefitting Du’s customer base, while expanding our coverage and capacity," commented CEO Osman Sultan.