Middle East Economic Survey

VOL. XLVII

No 34

23-August-2004

EGYPT

CAPITAL MARKETS

Orascom Telecom To Issue Bonds Worth $263Mn

Egypts Orascom Telecom is to issue seven-year bonds worth E1.6bn ($263mn) through three local banks National Bank of Egypt, Banque Misr and the Bank of Alexandria. The bonds will be issued in two tranches: the first, denominated in the local currency and worth E700mn ($113mn), will carry a floating interest rate at 2.5% over the Central bank of Egypts six-month discount...