April 28, 2014 / 9:47 AM / 3 years ago

Banglalink Digital issues $300 mln bond

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below