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Orascom Construction to Sell Bonds in June, EFG-Hermes to Manage

Orascom Construction Industries, the biggest publicly traded builder in the Middle East, said its planned 1.65 billion Egyptian pound ($291.6 million) bond issue will be sold in June and managed by EFG-Hermes Holding SAE.

“We’re in the stage of finalizing it with the capital markets authority,” Nassef Sawiris, chairman and chief executive officer of Cairo-based Orascom Construction, said in a telephone interview today.

Orascom expects that its 2010 earnings before interest, taxes, depreciation and amortization will exceed the company’s 2007 record, which included its cement holdings at the time, Sawiris said.

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