VOL. XLII

No. 28

12-July-1999

UAE

Al-Thuraya Signs $600Mn Loan With International Consortium

The Abu-Dhabi based Al-Thuraya Telecommunications Companyannounced on 6 July that it had signed a loan agreement for $600mn with aconsortium of international banks to finance a satellite mobile system which isscheduled to begin operating in September 2000 (MEES, 27 April). Theconsortium comprises ANZ Banking Group ($200mn), Societe Generale ($200mn), theUAE痴 Union National Bank ($100mn), and Abu Dhabi...