Egypt's Orascom talks $500 million seven-year senior notes at 8¼% area, pricing expected Thursday

By Paul A. Harris

St. Louis, Jan. 30 - Egypt's Orascom Telecom Finance SCA talked its $500 million offering of seven-year notes (B2/B-) at the 8¼% area on Tuesday, according to an informed source.

Pricing is expected on Thursday.

Credit Suisse and Citigroup are joint bookrunners for the notes, which are being marketed via Rule 144A and Regulation S.

The notes come with three years of call protection.

Proceeds will be used for general corporate purposes including the repurchase of shares and capital expenditures.

The prospective issuer is a subsidiary of Orascom Telecom Holding SAE, a wireless telecommunications provider to the Middle East, with headquarters in Cairo, Egypt.

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