Saudi Arabian mobile operator Mobily has secured export credit from Sweden’s export credit agency EKN worth US$325mn.

It’s the second time in recent weeks Mobily has secured such a facility, after lending the same amount from Finnvera in June. The shariah-compliant debt will be used to acquire network equipment from Swedish company Ericsson.

It has a tenor of 10 years and a drawdown period of 18 months. It will be repaid in 17 instalments and is priced at 171bps.