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FinancialNews
01-03-18
Qatar: Manni Corporation shareholders green-light USD600m bonds issue
(MENAFN) Qatar's Mannai Corporation shareholders were revealed to have granted authorization to each item on the meeting's agenda, with the Board's suggestion to issue USD600 million bonds included.
The company is also confirmed to be collecting funds that are aims for general corporate reasons, such as refunding existing debts.
Mannai Corporation's Group CEO and Director Alekh Grewal explained "these bonds are not aimed at acquisition purposes. When we acquired the French IT firm-GFI Informatique, we had bank loans. So the purpose of this bond issuance is also to repay some of that loans."
The CEO continued "the bonds are expected to hit the market by the second week of April. Currently we are still in the due diligence process with lawyers and banks."
MENAFN0103201800450000ID1096532803
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