Banglalink Digital issues $300 mln bond

CAIRO, April 28 Mon Apr 28, 2014 5:46am EDT

CAIRO, April 28 (Reuters) - Egypt's Global Telecom Holding said on Monday its Bangladeshi subsidiary Banglalink Digital Communications Limited issued Bangladesh's first international bond.

Banglalink, wholly owned by Global Telecom, has priced a 5-year $300 million bond with the coupon at 8.625 percent, Global Telecom said in a statement.

The transaction is expected to close on May 6, 2014.

"The notes will be due on May 2019 and are expected to be rated B1 by Moody's and B+ by S&P," the statement said.

"Banglalink intends to use the net proceeds from the offering to repay existing indebtedness and to finance capital expenditures," it added. (Reporting by Asma Alsharif; editing by Keiron Henderson)