Dubai Telco Du Signs $100m Financing Deal

The telecoms operator plans to use the funds for the future growth of its business.

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.