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Banglalink Digital issues $300 mln bond

Egypt's Global Telecom Holding's Bangladeshi subsidiary issues Bangladesh's first international bond

Reuters, Monday 28 Apr 2014
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Views: 708

Egypt's Global Telecom Holding said on Monday its Bangladeshi subsidiary Banglalink Digital Communications Limited issued Bangladesh's first international bond.

Banglalink, wholly owned by Global Telecom, has priced a 5-year $300 million bond with the coupon at 8.625 percent, Global Telecom said in a statement.

The transaction is expected to close on May 6, 2014.

"The notes will be due on May 2019 and are expected to be rated B1 by Moody's and B+ by S&P," the statement said.

"Banglalink intends to use the net proceeds from the offering to repay existing indebtedness and to finance capital expenditures," it added.

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