Muscat, Oman: Ooredoo has signed 3 new financing agreements with local and international banks worth USD 177 million (OMR 68 million). The new funding will be used for general corporate purposes and will underpin continued investment in the Company's network and ongoing enhancement of services for the Company's growing business and consumer customers.
The Company's ability to secure the new financing facilities is reflective of the Company's strong balance sheet, positive brand equity and excellent market performance. As the Company's customer base continues to grow, thanks to inspiring and innovative products and services, so too, does their strong relationship with both local and international banks.
The Company has spent in excess of OMR 124m solely in network modernisation over the last three years and this has resulted in population coverage growing to approximately 99%.
Commenting on the agreement, Jorgen Latte, Chief Financial Officer at Ooredoo said: "There has been huge interest from both local and foreign banks in our new facility. With our clear vision and strategy, Ooredoo attracts many banks who want to participate and support our strategic ambitions."
About Ooredoo
Omani Qatari Telecommunications Company SAOG ("Ooredoo") was founded and registered in the Sultanate of Oman in December 2004. It launched its service in March 2005 as the challenger mobile operator in Oman, originally operating under the name Nawras. The Company was awarded the second fixed licence in Oman in 2009, and launched its international gateway in April 2010, its corporate fixed and broadband services in May 2010, and its residential fixed and broadband services in June 2010. Since 2010, Ooredoo has been an integrated services telecommunications operator and is currently serving over 2 million customers across the Sultanate. Following a successful IPO on 1 November 2010, Ooredoo is listed on the Muscat Stock Market (MSM) under the "ORDS" ticker. Ooredoo is majority owned by Ooredoo Q.S.C. and also has a number of significant Omani shareholders which ensures that the company is strongly integrated into the Omani society. Ooredoo has won a number of awards including Jury's Distinction Award for Customer Service Excellence in the telecom sector 2013, Leading Telecommunications Company at the Arab Achievement Awards 2013, Best Operator Network at the Telecoms World Middle East 2013 Awards, a number of awards for their outstanding campaigns at the Dubai Lynx Awards in February 2014 and the CommsMEA award for Middle East Mobile Operator of the Year 2015.
Twitter: @OoredooOman
Facebook: www.facebook.com/OoredooOman
Instagram: @OoredooOman
YouTube: www.youtube.com/OoredooOman
Snapchat: Ooredoo_Oman
About Ooredoo Group
Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people's lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives, Myanmar and Indonesia. The company was named "Most Innovative Company of the Year - MEA Region" at the 2015 International Business Awards.
The company reported revenues of US$ 9.1 billion in 2014 and had a consolidated global customer base of 114.9 million customers as of 30 September 2015. Ooredoo's shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Twitter: @Ooredoo
Facebook: facebook.com/ooredoogroup
LinkedIn: www.linkedin.com/company/ooredoo
YouTube: www.youtube.com/ooredoogroup
© Press Release 2016
