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Du raises Dh3.76 bn loan for expansion

The loan is from different banks and split into Dh1.98 bn and Dh1.78 bn

Dubai-based telecom du recently announced to the media that it has raised Dh3.76 billion in loans from different banks to fund its expansion process and other requirements. This long-term debt finance by telecom is split into Dh1.98 billion for five years for revolving credit facilities and Dh1.78 billion for seven years loan facility. du recently came up with the results of the first quarter of 2021 that shows a marked improvement in the company’s profits.

The telecom stated that it would continue focusing on the 5G rollout programme. The report did not reveal the banks that were involved and the financing terms. The corporates of the UAE and government entities plan to tap the sizeable debut funds as interest rates remain on the lower side.

du recently announced the first 5G leased deployment in line in the country for the China State Construction Engineering Corporation Middle East (CSCEC ME) office in Dubai Industrial City. With the help of the 5G technology, du is expected to provide highly efficient and reliable leased line telco services. Along with exclusive connectivity, the leased line will also meet service level requirements for critical end-use applications. The network coverage with high capacity guarantees high-speed download and upload speeds and provides its users with complete control that ensures an uninterrupted and enhanced user experience. du is planning to implement proof of concepts of the 5G leased line for enterprises in the near future to create a successful coequal infrastructure that the fibre networks can rely upon.

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