Axis receives additional investments

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Indonesian-based telecom Axis has announced that it has secured a $1.2 billion financing deal with several international banks to fund a huge expansion.  Saudi Arabian company STC is the largest stake-holder in the company.  The new deals comprise 3 different parts, a $450 million commercial facility funded by Deutsche Bank and Saudi British Bank, $350 million from Ericsson for equipment purchases, and another $400 million equipment facility from Huawei funded by the China Development Bank.  The deal is Shariah-compliant.

Axis has about 10 million subscribers, and STC is the largest telecom in Saudi Arabia.  STC owns about 80% of Axis, and had previously pledged this year to invest $450 million in upgrading the Indonesian company’s facilities and infrastructure.  STC will offer an additional loan of about $370 million to keep Axis growing steadily.

 

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Reading Time: 1 minute

Indonesian-based telecom Axis has announced that it has secured a $1.2 billion financing deal with several international banks to fund a huge expansion.  Saudi Arabian company STC is the largest stake-holder in the company.  The new deals comprise 3 different parts, a $450 million commercial facility funded by Deutsche Bank and Saudi British Bank, $350 million from Ericsson for equipment purchases, and another $400 million equipment facility from Huawei funded by the China Development Bank.  The deal is Shariah-compliant.

Reading Time: 1 minute

Indonesian-based telecom Axis has announced that it has secured a $1.2 billion financing deal with several international banks to fund a huge expansion.  Saudi Arabian company STC is the largest stake-holder in the company.  The new deals comprise 3 different parts, a $450 million commercial facility funded by Deutsche Bank and Saudi British Bank, $350 million from Ericsson for equipment purchases, and another $400 million equipment facility from Huawei funded by the China Development Bank.  The deal is Shariah-compliant.

Axis has about 10 million subscribers, and STC is the largest telecom in Saudi Arabia.  STC owns about 80% of Axis, and had previously pledged this year to invest $450 million in upgrading the Indonesian company’s facilities and infrastructure.  STC will offer an additional loan of about $370 million to keep Axis growing steadily.

 

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