In a brief announcement to the Egyptian Exchange, mobile operator Mobinil said it has signed a E£2.9bn (US$475m) syndicated loan.
Proceeds will be used to repay some of its debt and for expansion.
The banks working on that deal include National Bank…
In a brief announcement to the Egyptian Exchange, mobile operator Mobinil said it has signed a E£2.9bn (US$475m) syndicated loan.
Proceeds will be used to repay some of its debt and for expansion.
The banks working on that deal include National Bank of Egypt, Banque Misr, Commercial International Bank of Egypt, HSBC and National Societe Generale Bank.
As of 31 March 2012, Mobinil had total liabilities of E£14.1bn (US$2.3bn), a 2.1% increase from Q1 2011.
In late May, incumbent France Telecom completed the acquisition of a majority stake in Mobinil, bringing its interest to 95%, in a deal valued at €1.5bn.
