Al Wataniya Telecom Syndicated Loan
19 | 03 | 2009
Bank of Palestine has participated in Senior Secured Syndicated Facility Loan of eighty five million Dollar to Wataniya Mobile with other international and local banks. BoP share is twenty million Dollar of the total amount. This first ever loan of this nature to build the newest mobile telephony network in Palestine, which will give the people a new choice and liberalize the telecommunications market. The formation of the loan facility partnership was endorsed on 19/03/2009 by Palestinian Investment Fund (PIF), the co-founder of Wataniya Mobile. The loan facility was issued by the Bank of Palestine, Ericsson Credit AB, the International Finance Corporation, Other local banks, and Standard Bank, also acting as lead facilitator. ExportkreditnÃ¤mden, the Swedish Export Credits Guarantee Board and GuarantCo, a specialist guarantor of infrastructure financing in low-income countries, acted as guarantors to the Syndicated Facility.