Middle East Economic Survey

VOL. XLVIII

No 22

30-May-2005

Algeria

Sonelgaz Launches AD10Bn Bond Issue

A Sonelgaz bond issue, seeking to raise AD10-15bn ($137mn-$206mn, MEES, 23 May), was launched on 22 May and will be open for subscription until 23 June. The notes have a nominal value of AD10,000 ($136.7) and minimum subscription is AD20,000 ($273.3) with no limit on maximum subscription. The bonds principal amount will be fully amortized on 22 May 2011. The six-year tenor bond carries a step-up...