Mobilink completes USD250 million debt offer

6 Nov 2006

Pakistan cellular operator Mobilink has completed its first ever high-yield debt offering, writes ABN AMRO and Deutsche Bank were lead arrangers for the USD250 million seven-year bond, which was 15-times oversubscribed when the order book closed with over 230 investors from 29 countries taking part. Mobilink, which is 88.7% owned by Egypt’s Orascom Telecom, said it will use the proceeds of the bond for capital expenditure and to refinance bridging facilities of up to USD100 million.

Pakistan, Jazz (formerly Mobilink/Warid)