ODH places 100 million bond
Orascom Development Holding (ODH) has placed its first public bond on the capital market. It has a volume of CHF 100 million.
The bond issued by Orascom Development Holding (ODH) has a coupon of 3.25% and a maturity of five years. The proceeds will be used, among other things, to further develop the destinations in Oman and Montenegro, ODH says. This is the first public bond issue in the company's history.
Bank Vontobel acted as lead manager for the transaction. Admission to trading on the SIX Swiss Exchange will be applied for and the bond is scheduled to be paid on October 11, 2019, ODH added.
ODH currently operates nine destinations: In addition to Andermatt, there are four in Egypt (El Gouna, Taba Heights, Makadi Heights and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, and Lustica Bay in Montenegro. (ah)
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