VOL. XLI
No. 17
27-April-1998
UAE
Al-Thuraya Plans $600Mn Loan
Al-Thuraya Satellite Telecommunications Company of the UAE announced on 19 April thatit is planning to borrow $600mn to finance its satellite project. Al-Thuraya's Chairman,Mr. Muhammad Hasan 'Umran, stated that "we haveappointed Merrill Lynch as financial advisors and they will submit documentation nextmonth. Interest has been expressed by UAE, regional and international banks."Al-Thuraya was established in January 1997 with an...
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