Telkom has secured a $127 million loan facility to fund its mobile expansion in South Africa, Bloomberg reports. The syndicated loan has a term of seven years and is backed by China Export and Credit Insurance.

The loan was arranged by Barclays Capital. China Development Bank, Bank of China, China Construction Bank, Citigroup, HSBC Holdings, Sumitomo Mitsui Financial and Absa Group also participated in the loan’s syndication.

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