Dubai telco du signs $100 mln financing deal

Reuters Middle East

DUBAI, Jan 2 (Reuters) - Dubai's Emirates Integrated

Telecommunications Co, or du, has signed a $100 million

financing deal with Standard Chartered to shore up

liquidity, the company said on Wednesday.

The financing, and other debt facilities secured recently,

would give the firm flexibility to fund future growth of its

business, du said in a statement on Dubai's bourse.

The statement did not provide terms such as pricing for the

deal or when it matures.

In December, the company secured a $500 million club debt

facility and signed a $100 million three-year loan facility with

Singapore's DBS Bank.

(Reporting by Praveen Menon; Editing by Rachna Uppal)

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