Polish telecommunications group Polkomtel plans to sell €900m (US$1.1bn) worth of bonds, according to separate reports by Bloomberg and the Financial Times, both quoting an unnamed banker.
Poland’s second largest mobile company will issue …
Polish telecommunications group Polkomtel plans to sell €900m (US$1.1bn) worth of bonds, according to separate reports by Bloomberg and the Financial Times, both quoting an unnamed banker.
Poland’s second largest mobile company will issue eight-year bonds in euros, US dollars and Polish zloty to finance local businessman Zygmunt Solorz-Zak’s PLN18.1bn (US$5.6bn) acquisition of Polkomtel, the articles said. The bonds are callable after four years.
Solarz-Zak agreed to take over a bridge loan used to acquire Polkomel in June and the Polish antitrust authorities approved the deal in October.
According to Bloomberg, the bond is expected to mark the first euro-dominated speculative grade (junk) offering from a non-financial company since the first half of November.
Deutsche Bank and Credit Agricole are lead underwriters, the FT said. Royal Bank of Scotland and Societe Generale will also work on the fundraising, according to Bloomberg.
The FT said the US part of the roadshow begins on Monday, while in Europe a roadshow will be held in the week starting 16 January.
Bloomberg stated the yet-to-be-rated bonds will be issued by Eileme 2 AB.
Polkomtel declined to comment on the matter.
