Egyptian mobile operator Mobinil has signed a E£2.26bn (US$324m) syndicated loan.
Proceeds will be used to repay debt maturing in 2014 and 2015, the company said in a stock exchange announcement.
The banks working on the transaction are Banque Misr,…
Egyptian mobile operator Mobinil has signed a E£2.26bn (US$324m) syndicated loan.
Proceeds will be used to repay debt maturing in 2014 and 2015, the company said in a stock exchange announcement.
The banks working on the transaction are Banque Misr, Commercial International Bank, Qatar National Bank, Bank of Alexandria, Credit Agricole, HSBC, Ahli United Bank and Emirates National Bank of Dubai.
Separately, Mobinil’s majority owner, French incumbent Orange, is in the process of selling telecoms towers in the North African nation.
Between 3,000 and 3,500 sites are part of the process and the operator plans to offload about half of them while selling only the usage rights for the other half.
The transaction is expected to close in Q1 2014, a source with knowledge of the matter told TelecomFinance.
