By Christine Van Dusen
Atlanta, April 25 - Bangladesh's Banglalink Digital Communications Ltd. revived its $300 million issue of 8 5/8% notes due May 6, 2019 (expected ratings: B1/B+/), pricing the bonds at 99.008 to yield 8 7/8%, a market source said.
The deal came at the tight end of talk for a yield in the 9% area.
Citigroup was the bookrunner for the Rule 144A and Regulation S deal.
The issuer is a cellular services provider and a subsidiary of Malta's Telecom Ventures Ltd., part of Egypt's Global Telecom Holding.
| Issuer: | Banglalink Digital Communications Ltd.
|
| Description: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | May 6, 2019
|
| Coupon: | 8 5/8%
|
| Price: | 99.008
|
| Yield: | 8 7/8%
|
| Bookrunner: | Citigroup
|
| Trade date: | April 25
|
| Settlement date: | May 6
|
| Expected ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 9% area
|
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