Bahrain-based telco Batelco has mandated BNP Paribas and Citigroup to arrange fixed income investor meetings, according to a statement.
Those meetings, which will start tomorrow (23 April) in Asia, the Middle East and Europe, may be the precursor for a…
Bahrain-based telco Batelco has mandated BNP Paribas and Citigroup to arrange fixed income investor meetings, according to a statement.
Those meetings, which will start tomorrow (23 April) in Asia, the Middle East and Europe, may be the precursor for a bond issue.
The company said that the size of the bonds, to be listed on the Irish Stock Exchange from May 2013, remains to be determined.
The bond issue, which would mark Batelco’s first foray into global debt markets, might be used to cover part of a financing facility for its US$570m acquisition of Cable and Wireless Communications’ (CWC) Monaco & Islands portfolio earlier this month, according to Reuters.
In early December last year, Batelco announced plans to raise up to US$1bn of debt through a bond issue and a term loan facility to finance the transaction, with Citigroup and BNP Paribas as its banks to raise the funds.
Meanwhile, Batelco announced this weekend it is no longer in talks with India’s Reliance Communications for a majority stake in its enterprise business unit, Reliance Globalcom. No further explanation was provided.
