12 June 2006
Beirut (APD) - Orascom Telecom Tunisie (Tunisiana) has secured a 350 million euros ($442.3 million) loan that will be used for advanced reimbursement of old debts and for financing the company's new projects, the Dubai-based al-Bayan daily reported Monday.

The private sector mobile operator has signed the loan agreement with a consortium of 30 foreign banks and 11 local banks.

The consortium is led by Citibank Tunisia and the Arab Banking Corporation (ABC), said the daily, adding that local banks' slice in the loan adds up to 125 million euros while the foreign banks would provide 225 million euros.

Neither the interest rate charged nor the loan's duration was disclosed.

Tunisiana shares the mobile phone market in Tunisia with the state-owned Socit Nationale des Tlcommunications (Tunisie Tlcom) since 2002.  [TS]

By Shikrallah Nakhoul, APD Staff Writer in Beirut

© APD (Arab Press Digest) 2006