Axis receives additional investments
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.
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,...
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.
