The debt package supporting the PLN18.1bn (E4.5bn) acquisition of Polish second largest operator Polkomtel by local businessman Zygmunt Solorz-Zak consists of a mix of senior secured loans, bridge loans and a PIK instrument, bankers say.
The senior…
The debt package supporting the PLN18.1bn (E4.5bn) acquisition of Polish second largest operator Polkomtel by local businessman Zygmunt Solorz-Zak consists of a mix of senior secured loans, bridge loans and a PIK instrument, bankers say.
The senior secured loan facilities are split between two term loans and a RCF. A PLN3.4bn (E848m) six-year amortising facility carries an initial margin of 375 bp over Wibor, while a PLN2.394bn (E597m) (in Zlotys and Euros) six-and-a-half-year bullet loan carries an initial margin of 450 bp over Wibor/Euribor. Finally a PLN600m (E150m) six-year RCF carries an initial margin of 375 bp over Wibor.
Credit Agricole and Deutsche Bank are global co-ordinators and physical bookrunners, while RB and SG are bookrunners. PKO BP is initial mandated lead arranger.
The syndication is expected to be launched shortly.
