Orascom to refinance telecoms debt
Orascom Telecom is to refinance a portion of the Eur 435 million ($534 million) debt raised in January to help finance the activities of its mobile services subsidiary, Orascom Telecom Algerie( OTA). Industry sources say that the company, whose cashflow is in Algerian dinars, is looking to refinance about 50 per cent of the debt through local institutions in order to reduce foreign exchange risk. The original six-year financing package, lead arranged by Credit ...
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