Cairo – Mubasher: Banglalink Digital Communications Limited, a subsidiary of Global Telecom Holding (GTH), has entered into a new floating rate term facilities agreement of a BDT 29.3 billion ($353 million) divided into two tranches.

The first three-year tranche amounts to BDT 10.7 billion and the second five-year tranche totals BDT 18.6 billion, Global Telecom added in a bourse filing on Tuesday.

The Egyptian company indicated that the terms of the loan include an option to boost facilities up to a maximum of BDT 40 billion.

Global Telecom owns 100% of Bangladesh’s Banglalink.

Global Telecom’s capital amounts to EGP 2.7 billion distributed over 4.7 billion shares at a par value of 58 piasters per share.