CAIRO: Orascom Telecom on Thursday priced a $750 million bond with a yield at the low end of guidance, a banker familiar with the sale said.
The 7-year bond was priced at par with a coupon of 7.875 percent, the banker said, the tight end of the range given late on Wednesday of 7.875 to 8 percent.
The bond was increased on Wednesday from an initially planned $500 million. Both the increase in size and the final yield suggest strong demand for the bond.
Credit Suisse and Citigroup are managing the sale.
Proceeds from the issue will be used for general corporate purposes including the repurchase of shares and capital expenditure.
