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Ooredoo signs $1 billion loan deal

saudi allies and qatarQatar’s Ooredoo has signed a $1 billion five-year revolving credit facility, the telecommunications operator said in a statement on Thursday.

Ooredoo will use the new facility to repay a $750 million loan due in May 2015, with the rest to be allocated for general business purposes, a filing to Qatar’s stock exchange said.

Seventeen banks helped to fund the loan, including Barclays , HSBC and Qatar National Bank.-Reuters

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