 Axiom Telecom LLC ("Axiom") has mandated Emirates NBD International PJSC, JPMorgan and Dubai Islamic Bank as the Mandated Lead Arrangers for a USD 400 million syndicated Import/Purchase Finance Facility. Mandated Lead Arrangers have successfully closed the Facility amongst eight participating banks.
This Facility was underwritten by the MLAs and will replace all existing funded import/purchase finance facilities of the Company. Participating Banks includes First Gulf Bank, Noor Islamic Bank as Lead Arranger, Commercial Bank of Dubai as Arranger and Emirates Islamic Bank and United Bank Ltd. as Co-Arrangers.
Axiom Telecom is the largest and leading, authorized distributor and retailer for international brands including Nokia, Sony Ericsson, Samsung, Motorola, Thuraya and i-mate. Axiom specializes in wireless communication products and has more than 500 retail outlets in prime locations across the region. Axiom was established in 1997 by Faisal Al Bannai. TECOM Investments, a member of Dubai Holding, acquired 40% shareholding in AXIOM in December 2005.
In addition to its AXIOM branded outlets, the Company also owns and operates through Fono and One mobile outlets. The Company employs over 2,000 people and has presence in Saudi Arabia, Bahrain, Qatar, Oman, Kuwait, London, Egypt and India. As a part of regional expansion, Axiom has recently formed a 50:50 joint venture with Indian’s leading retailer, Pantaloon Retail to distribute mobile handsets and accessories and establishing service centers in India. The company plans prominent foothold in the Indian market by rapidly expanding its distribution network and retails presence.
 Axiom plans to be one of the largest mobile wireless retailers globally and plans to expand its operations through organic growth and strategic partnerships in MENA and India. Axiom would like to have 2500 retail points of presence by 2010. Axiom is excited about its joint venture with Pantaloon in India and will invest in developing this joint venture into one of the largest mobile wireless retailers in the country. Growth will be underpinned by continued investment in world class systems, ongoing business process improvements and supported by an experienced blue chip leadership team.
“In line with our regional and global growth strategy this syndication will support our plans and create a strong partnership between Axiom and key banks regionally and globally,” said Faisal Al Bannai, CEO, Axiom Telecom LLC.
Mahdi Kazim, General Manager, Large Corporate Unit at Emirates NBD, stated that “this is a prestigious transaction for us, particularly as Emirates NBD has long standing relationship with AXIOM. We wish AXIOM success in all of their future endeavors and assures our support in future business expansion”.
Rajan Khetarpal, Deputy General Manager & Head Global Debt Capital Markets & Overseas Corporates, Emirates Bank said on this occasion, “We are very pleased with the success of AXIOM’s debut transaction in this market. Emirates NBD will continue supporting our clients in their quest for growth .Developing an Islamic and conventional tranche out of the same Facility was a challenging task for which all the stakeholders worked with determination and creative thinking.”
 "We are pleased to have been mandated by AXIOM for this important transaction and look forward to working with them as they continue to successfully expand their business," said Jeremy Shaw, EMEA Global Trade Services Head for JPMorgan.
Syed Naveed Ali, Chief of Corporate Banking, Dubai Islamic Bank commented, “Dubai Islamic Bank has the unique distinction of being world’s first Islamic bank, a pioneering institution that has combined the best of traditional Islamic values with the technology and innovation that characterizes the best of modern banking.
“Axiom Telecom is a market leader in wireless retail industry in UAE and have grown to be a regional and international player with aggressive growth targets. We are proud of our association with Axiom Telecom and to be a part of this financing which will help the company to go to the next level by emphasizing and enhancing its already strong business profile.
“This transaction is an important development to maximise the profile and reach of DIB’s Shariah compliant products and it demonstrates our ability to meet growing customer demand in the Islamic Finance segment of the market and our ability to offer multifaceted financing solutions to our customers as we strive to attain leadership in the region's financial market.” | 
