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Celtel Tanzania – export financing
23 March 2009
Local currency answer for Tanzanian telco
Read more:
telecoms
Celtel
Tanzania
Zain
local currency
FMO
DEG
Swedfund
EDC
Citi has an extensive record in structuring local currency financings, and in this deal it found a solid partner in Standard Bank for arranging this deal in Tanzania.
The deal secured Celtel Tanzania, now operating as Zain Tanzania, a $270 million equivalent loan with a mix of local and international lenders to support its continuing network expansion. The funding came after a highly successful 2007, which saw a 65% growth in customer numbers to over 2.5 million....
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