Cairo – Mubasher: The board of directors of Global Telecom Holding (GTH) gave the green light on Wednesday for the company’s wholly-owned Dutch subsidiary GTH Finance B.V. to issue bonds worth $1.2 billion in two tranches.
The first tranche, valued at around $500 million with a yield of 6.25%, will mature in 2020, while the second tranche worth $700 million will carry a yield of 7.25% and will mature in 2023.
The subsidiary will lend GTH the proceeds of its bond issuance at an interest rate of 9.25% and 10.25% for the loans that will come due in 2020 and 2023 respectively.
