Mobilink to launch $300 million bonds
KARACHI (September 29 2006): Pakistan Mobile Communications (Pvt) Ltd – Mobilink- will next month launch a $300 million denominated bonds, a banker with knowledge of the deal said on Thursday. “The size of the issue would be approximately $300 million,” said the source, requesting anonymity. “It would be a Reg. S bond, launched in October,” he said, which typically means the securities would not be sold in the United States. The source gave no details on the maturity of the issue, which would be the first dollar bond sale by Pakistan”s biggest cellphone operator. Mobilink, the local unit of Egypt-based Telecom Company Orascom declined to comment on the debt sale, but market sources say it has mandated ABN Amro and Deutsche Bank to handle the issue.
Source: Business Recorder