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...
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