DUBAI: Bahrain Telecommunications Co (Batelco) plans to issue a $650 million seven-year bond on Monday, arranging banks said, and has released early price talk for the deal.
Initial price guidance was issued at a spread of 350 basis points over U.S. Treasuries, said an announcement from lead arrangers BNP Paribas and Citigroup Inc.
The bond for Batelco, 78 percent owned by the Bahraini government, is expected to cover part of a funding package for its $1 billion acquisition of Cable & Wireless Communications' assets in Monaco and other island states. (AFP)
