Egypt’s Mobinil mulls $180m bond issue

08 Sep 2010

(MENAFN) The Chief Executive Officer at Mobinil, Egypt’s biggest mobile firm by subscribers, said that the company is considering issuing bonds with a value of $180 million, Reuters reported.

Mobinil issued $270 million in bonds in January. The firm’s underwriter said the issue’s first tranche, worth $255 million, was oversubscribed by 1-1/2 times, and the second tranche in excess of 11.4 times.

The bonds had a five-year maturity with a fixed annual yield of 12.25 percent.

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