The local Orascom Telecom (OT) has mandated a group of four banks to underwrite a $2,000 million, five-year debt facility. The four banks are ABN Amro, Citigroup, Credit Suisse First Boston and Deutsche Bank. Negotiations are under way with local banks to join the transaction at a senior level, prior to the launch of general syndication. About $650 million of the funds raised will be used to repay existing debts. These include debts acquired through the purchase of Italian mobile operator Wind by the OT-led Weather consortium in mid-2005 (MEED 3:6:05).
You might also like...
Red Sea Global awards Marina hotel infrastructure
18 April 2024
Aramco allows more time for MGS package revised prices
18 April 2024
Morocco tenders high-speed rail project
18 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.