Mobinil, Egypt’s top mobile firm by subscribers, is considering issuing bonds with a value of LE 1 billion ($180 million), its chief executive said on Monday.
Asked whether Mobinil planned to issue LE 1 billion worth of bonds, Chief Executive Officer Hassan Kabbani said in a text message sent to Reuters that "it is under consideration."
Mobinil issued LE 1.5 billion in bonds in January. The firm’s underwriter said the issue’s first tranche, worth LE 1.4 billion, was oversubscribed by 1-1/2 times, and the second tranche in excess of 11.4 times.
The bonds had a five-year maturity with a fixed annual yield of 12.25 percent.
