Mobinil bond closed oversubscribed

27 January 2010

The 1.5 billion Egyptian pound ($273m) bond sold by the Egyptian Co. for Mobile Services (Mobinil), closed oversubscribed amid strong appetite from institutional and retail investors, EFG-Hermes, the advisor on the deal, told Dow Jones. Mobinil, sold the bond in two tranches - one for institutional investors, which was oversubscribed 1.5 times; and a public tranche for retail investors that was 11.4 times oversubscribed, EFG-Hermes said.

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