Print

Orascom places senior notes worth $750 million (Egypt)

Finance , March 15, 2007



 -

Egypt-based telecommunications company Orascom Telecom Holdings has priced and placed $750 million worth of senior notes with investors, due to mature on February 8, 2014. The notes bear an interest rate of 7.88 per cent per annum and are callable in the beginning of February 2010. The notes are backed by a senior guarantee from Orascom Telecom.

The transaction was earlier slated to be worth $500 million. It was, however, increased due to favourable pricing and strong investor demand. While fund managers purchased 60 per cent of the issue, banks and retail intermediaries purchased 30 per cent and insurance companies bagged the balance. ABN Amro and Deutsche Bank were co-leads for the bond issue.

 
 

Copyright © 2010, tele.net.in All Rights Reserved