Banglalink raises $102 million through corporate bond issue (Bangladesh)

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Banglalink raises $102 million through corporate bond issue (Bangladesh)

April 15, 2010

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Bangladesh-based oper ator Banglalink, which is controlled by Egypt's Orascom Telecom, has raised $102 million through the country's largest corporate bond issuance. The amount is significantly higher than the target of $60.5 million announced in December 2009. The transaction has broken the national record of $70 million recently set by mobile operator GrameenPhone.Banglalink plans to use the proceeds of its bond sale for network rollout, mainly in rural Bangladesh.