Egyptian mobile operator Mobinil is weighing up a possible 1E£bn (E136m) bond issue, CEO Hassan Kabbani has told Reuters.
If the operation takes place, it will follow a E£1.5bn two-tranche bond issue that took place in January. Both tranches were…
Egyptian mobile operator Mobinil is weighing up a possible 1E£bn (E136m) bond issue, CEO Hassan Kabbani has told Reuters.
If the operation takes place, it will follow a E£1.5bn two-tranche bond issue that took place in January. Both tranches were reportedly oversubscribed, with the first – worth E£1.4bn – by between one and one and a half times, and the second by 11.4 times.
That bond expires in five years and pays a fixed annual yield of 12.25%.
Earlier this year, Mobinil shareholders Orascom and France Telecom resolved a two-and-a-half year ownership dispute, which was seen at the time as clearing the way to a possible takeover by South African mobile giant MTN. That deal subsequently fell through, due to a separate dispute between Orascom and the government of Algeria over the ownership of local mobile unit Djezzy.
Mobinil representatives were not available by press time.
