$545m refinancing facility agreed to support du’s expansion

Dubai-listed Emirates Integrated Telecommunications, operator of the du brand in the UAE, has refinanced its AED2 billion ($545 million) credit facility through a consortium of local and international banks.

The revolving credit facility was arranged and led by Emirates NBD Capital, with participation from a range of UAE and international banks. 

The seven-year facility is planned to be used for general corporate purposes, serving primarily as a liquidity backstop to meet short-term funding requirements and to support investment opportunities, the telco said in a statement on Thursday.

It was secured on better terms than the previous one, but no details were given and it remains undrawn as of the date of the announcement.

The company reported a 17 percent increase in net profit to AED2.9 billion ($789 million) in 2025 as revenue gained nearly 9 percent to AED15.9 billion.

The UAE wealth fund Emirates Investment Authority owns 50.1 percent of du, whose stock fell 1.5 percent to AED10.24 on Thursday, up 6 percent on the year to date.

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