Orascom Telecom Secures US$ 2.5 bn Committed

Orascom Telecom Secures US$ 2.5 bn Committed

Cairo, March 2nd, 2008: Orascom Telecom Holding S.A.E. (“Orascom Telecom” or “the Company”) announced today that it has secured commitments and underwritings for a five year senior secured debt facility totaling US$ 2.5 billion. General syndication of the facility was launched on February 29th, 2008. The Facility will be used to refinance the outstanding amounts under the company’s existing US$ 2.5bn jumbo facilities and for general corporate purposes.

Aldo Mareuse, Group Chief Financial Officer of Orascom Telecom, commented “The new facility will  provide long term financing that will allow the Company to evaluate investment opportunities on a disciplined basis, or continue to return capital to its shareholder’s in light of favourable relative market valuations. The committed facility provides greater financial flexibility for the continued development of our fast growing businesses and creates a simpler and more transparent capital structure”.

The 12 banks that have committed to underwrite the facility are Banque Misr, Barclays Capital1, BNP Paribas, Calyon, HSBC Bank Egypt, ING Bank N.V., JPMorgan Chase Bank, N.A., Mashreqbank psc, National Bank of Egypt, Standard Bank PLC2, Standard Chartered Bank and WestLB AG3.

-END-

By | 2017-06-20T10:50:51+00:00 March 2nd, 2008|Uncategorized|0 Comments

About the Author:

Leave A Comment