Dialog raises $ 200m loan

Mobile operator Dialog Axiata, has raised $ 200 million through a syndicated loan. The five-year loan had been arranged by OCBC Bank Malaysia Berhard and Standard Chartered Bank, Dialog said in a media release.

The fund will be used for capital expenditure, working capital and to settle existing debt, company sources said.

Dialog recently signed an agreement with the BOI for a $ 150 million expansion in broadband and fibre optics infrastructure, taking total investments in the island so far to $ 1.5 billion.