VOL. XLI
No. 26
29-June-1998
UAE
Al-Thuraya To Raise $500Mn Loan
UAE's Al-Thuraya Satellite Telecommunications Company announced on 21 June that it isto raise a $500mn loan to fund its project through a syndicated finance with leadingforeign and local banks. Mr Yusuf al-Sayyid, al-Thuraya's newly appointed Chief Executivesaid that "the response from banks for the debt finance proposal was overwhelming andwe are hopeful that the modalities such as appointing underwriters and fixing debtservicing...
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