SULEIMANIAH, Iraq -- HSBC has signed a USD 24 million medium term facility to finance telecommunications equipment and systems supplied by Nokia Siemens Networks - one of the world's leading telecommunications equipment suppliers - to Asiacell, a leading mobile operator in Iraq.

The equipment and services supported by this financing will allow Asiacell to continue to upgrade the quality of services it provides to customers across Iraq as well as to accommodate ongoing growth in subscriber numbers to the Asiacell network.

“Once more, we have been able to support the growth of our customer in advancing our common goal of providing best-in-class services to the people in Iraq, both through the provision of our technology and facilitating a financial solution,” said Christian Boczek, Country Director of Nokia Siemens Networks in Iraq.

HSBC Holdings plc