VOL. XLII

No. 02

11-January-1999

UAE

Thuraya Awards Mandate For $600Mn Loan

The Abu Dhabi-based Thuraya Satellite Telecommunications Companyannounced on 27 December 1998 that it had awarded a mandate to a syndicate of banks toarrange a $600mn seven-year loan facility. The four lead arrangers in the syndicate arethe Abu Dhabi Islamic Bank, Australia and New Zealand Banking Group, Frances SocieteGenerale and the UAEs Union National Bank. A $100mn tranche of the loan will bemanaged by Abu Dhabi...