Axis, the Indonesian subsidiary of Saudi Telecom, has completed a $1.2 billion financing deal, the company said on Tuesday. The move, which comprises of three separate facilities and has a tenor of seven and a half years, is designed to fund Axis’ expansion into mobile broadband and improve its nationwide coverage.
“This deal is one of the largest Islamic finance deals in Asia and one of the largest international financing deals in East Asia,” said Ameen Al Shiddi, Saudi Telecom Company’s chief financial officer……………………………………….Full Article: Source