(MENAFN) Batelco Group's CEO, Shaikh Mohamed bin Isa Al Khalifa, announced that the company's USD650 million bond offering was successful, reported Gulf Daily News.
The group would use the proceeds to partly finance the recent purchase of Cable & Wireless Communications' (CWC) Monaco and Islands business units.
Shaikh Mohamed added that the bond issue was priced at a spread of 325 basis points over 7-year US Treasuries, for a yield of 4.342 percent and coupon of 4.250 percent a year.
He said that the launch and the pricing of the bond offering attracted a USD4.8 billion order book across 255 accounts, of which 38 percent was for Middle East investors, 12 percent for Asia, 22 percent for Europe, 27 percent for UK and the remaining 1 percent for other investors.
In terms of investor types, the initial split was 48 percent to asset managers funds, 34 percent to banks, 8 percent to private banks, while 3 percent was to insurance companies and pension funds, 3 percent to hedge funds and 4 percent to other investors.
It is worth noting that the bonds will be listed on the Irish Stock Exchange.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.