Axis receives additional investments

by -
2053

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.

 

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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.

 

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

NO COMMENTS

Leave a Reply