Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Zain Saudi Said to Be in Talks to Refinance $2.5 Billion Loan

Mobile Telecommunications Co. of Saudi Arabia, known as Zain Saudi, is in talks with lenders to refinance its $2.5 billion Islamic loan facility that matures in July, two people familiar with the matter said.

The company, 25 percent owned by Mobile Telecommunications Co. of Kuwait, is looking to refinance the loan as it is unable to repay the debt now, one of the people said, declining to be identified because the talks are private. The company has good support from banks and shouldn’t have any problem refinancing the facility, another person said.

A spokesman for Mobile Telecommunications Co. of Kuwait couldn’t be reached for comment when contacted by Bloomberg News today. Reuters reported the refinancing yesterday.

Investors approved a six-month extension of the loan in January. Zain Saudi got the $2.5 billion Murabaha loan from eight banks in August 2009 to finance the company’s network expansion.

The company’s fourth-quarter loss narrowed to 461 million riyals ($123 million) from 521 million riyals in the year-earlier period.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.