Deal: Acquisition of KenCell Communication by Celtel
Finance: $70 million bridge loan and $230 million bank guarantee
Arranger: ING Bank
Date: May 26 2004
Pan-African mobile phone company Celtel International has closed one of the largest corporate deals ever seen in east Africa, paving the way for a local bond issue in the autumn.
At the end of May, Netherlands-based Celtel, formerly known as MSI Cellular, announced that it had paid $250 million for a 60% stake in Kenyan mobile service provider KenCell Communication.
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