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