Oman’s second national telecoms operator Omani Qatari Telecommunications Company, also known as Nawras, has announced the signing of a new funding deal worth USD149 million to refinance its debt and facilitate future investments. The new five-year facility consists of a term loan of USD87 million and revolving credit facility of OMR24 million (USD62 million) from a consortium of banks comprising Bank Muscat, DBS Bank, Qatar National Bank (Doha and Muscat) and the Bank of Tokyo-Mitsubishi. Commenting on the deal, Nawras’ CFO Jorgen Latte said: ‘The new facility which drew great interest from many banks further improves Nawras’ conservative debt profile, enhances our financial flexibility and lowers our funding cost
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OVETEL Nawras secures USD149m funding deal
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