Algeria News & Events, Latest News for Algeria

Update: Saturday, 15 May 2010    

Algérie Telecom is to launch a third bond issue

Algérie Telecom general manager
Thursday Nov 09 2006.

Algérie Telecom general manager Mr. Khireddine Slimane unveiled that his company will invest between 2006 and 2011 3.8 billion dollars yet his company will have recourse to a third bond issue in which only economic enterprises will participate.

The bond issue launched from 17th September 2006 to 31st October 2006 allowed Algérie Telecom to realize more than 21.6 billion AD exceeding at around 15% the already set 20 billion AD. But a simple calculation operation reveals that this difference is estimated at only 7% otherwise the bond issue outcome will be 23 billion AD in stead of the announced 21 billion Dinars.

The overall amount collected through the operation is estimated at 300 million USD. According to Algérie Telecom general manager, 2/3 of bond certificates belong to natural persons and the other rate is financial institutions own. Meanwhile, 65% bond certificates are localized in Algiers.

Mr. Khireddine Slimane made clear that a third operation is to be launched in which only economic companies will participate, noting that he is planning to invest more than 3.8 billion dollars between 2006 and 2011.

Home