Mobile Telecommunications Company in $4 Billion Credit Facility

Cleary Gottlieb advised the borrower, Mobile Telecommunications Company International B.V., and the guarantors, Mobile Telecommunications Company K.S.C. and Jordan Mobile Telephone Services Company P.S.C., on an unsecured 5-year $4 billion revolving credit facility arranged by BNP Paribas, CALYON, Credit Suisse and UBS. The facility will be used to finance certain acquisitions, to refinance existing indebtedness and for general corporate purposes.

Mobile Telecommunications Company is the leading cellular operator in the Middle East and Africa. The company is listed on the Kuwait Stock Exchange with a market capitalization of approximately $11.1 billion.