Al Yah seeks $1.2bn for expansion
United Arab Emirates: Wednesday, May 21 - 2008 at 07:28
The UAE's first nationally owned satellite operator, Al Yah Satellite Communications Company, is seeking $1.2bn in funding to finance its satellites communications systems, reported Gulf News. Officials said the 14-year non-recourse finance will raise $1bn in term loan, $100m in stand-by term loans and $85m in debt service reserve letter of credit. The company intends to close the deal by August 2008.
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Jeff Florian, Senior ReporterWednesday, May 21 - 2008 at 07:28 UAE local time (GMT+4)
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