Weather Capital has issued Orascom Telecom with a US$225m loan to fund part of its commitment to Orascom’s planned US$800m rights issue.
The loan is interest-free and will be converted into new Global Depository Receipts if the issue is successfully…
Weather Capital has issued Orascom Telecom with a US$225m loan to fund part of its commitment to Orascom’s planned US$800m rights issue.
The loan is interest-free and will be converted into new Global Depository Receipts if the issue is successfully completed, Orascom said in a statement.
Last December, Orascom announced that it would carry out the group’s first ever rights issue, in part to help it fight a US$600m tax claim in Algeria.
EFG Hermes is managing the issue.
