VOL. XLII

No. 09

1-March-1999

EGYPT

Egypt痴 MobiNil To Issue $100Mn Of Bonds

Egypt痴 mobile phone service company, MobiNil, has approveda E340mn ($100mn) bond issue to raise funds to finance the company痴 capitalexpenditures within the coming two years. The bond issue forms part of a planto replace the current $490mn bridging loan with long-term debt worth $670mn.The bridging finance was 80% denominated in US dollars, with the remainder inEgyptian pounds. However the new loan is expected to be...