Cairo – Egypt: Banglalink Digital Communications, a subsidiary of Global Telecom Holding, has signed an agreement with a consortium of international banks to receive funding valued at $300 million.

With a financing period up to three years, this agreement will cover the repayment of Banglalink’s $300 million worth of bonds which hold a maturity date on 6 May 2019, Global Telecom said in a bourse disclosure to the Egyptian Exchange (EGX) on Tuesday.

VEON Holdings B.V will offer an unconditional guarantee for this loan, Global Telecom added.