Banglalink Digital issues $300 mln bond

Reuters, Monday 28 Apr 2014

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

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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