Spartan Capital Holdings, the special purpose vehicle created by Polish billionaire Zygmunt Solorz-Zak, has received approval from bondholders for the repurchase of Polkomtel’s PLN1bn (US$313m) floating-rate notes maturing in 2015, according to a Reuters…
Spartan Capital Holdings, the special purpose vehicle created by Polish billionaire Zygmunt Solorz-Zak, has received approval from bondholders for the repurchase of Polkomtel’s PLN1bn (US$313m) floating-rate notes maturing in 2015, according to a Reuters report.
Dealers on the tender are Credit Agricole and Deutsche Bank, wrote the newswire.
Spartan Capital could not be reached for comment before the press deadline.
The move is reportedly aimed at avoiding any delay in settling the bond’s repayment, which will be triggered once the Polkomtel acquisition is completed.
Zygmunt Solorz-Zak agreed to buy Polkomtel, the second largest Polish mobile operator, in July for PLN18.1bn (US$5.6bn). The transaction is expected to be completed in Q4 2011.
