Batelco raises USD 650 mln in first bond issue

Tuesday 30 April 2013 | 11:55 CET | News
Bahrain operator Batelco announced the launch and pricing of a USD 650 million, 7-year bond offering. The bonds are rated BBB- by both Standard & Poor's and Fitch. The transaction, led by BNP Paribas and Citigroup, is the inaugural bond issue for the group, with the proceeds forming part of the funding requirements for Batelco's recently announced acquisition of the Monaco & Islands business units of Cable & Wireless Communications. The issue was priced at a spread of 325 basis points over 7-year US Treasuries, for a yield of 4.34 percent and coupon of 4.25 percent per annum, following a week

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Categories: General
Companies: Batelco / Cable & Wireless Communications
Countries: Bahrain
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