Polkomtel has closed its US$1.2bn corporate bond deal, issuing €542m (US$700m) senior notes due 2020 and US$500m senior notes due the same year.
The Polish telecommunications operator’s London-based legal advisers Dewey & LeBoeuf said the euro…
Polkomtel has closed its US$1.2bn corporate bond deal, issuing €542m (US$700m) senior notes due 2020 and US$500m senior notes due the same year.
The Polish telecommunications operator’s London-based legal advisers Dewey & LeBoeuf said the euro notes have a coupon of 11.75% while the dollar debt has a coupon of 11.625%.
The proceeds will be put toward a high-yield bridge loan used to fund Polish media entrepreneur Zygmunt Solorz-Zak’s 2011 acquisition of Polkomtel – Poland’s second-largest mobile operator – for PLN18.1bn (US$5.6bn).
Dewey & LeBoeuf noted that the deal is the largest corporate bond offering in Polish history and the first major euro-dominated high-yield deal since November last year.
Earlier this month, the Financial Times named Deutsche Bank and Credit Agricole as the lead underwriters, while Bloomberg also connected Royal Bank of Scotland and Societe Generale with the fundraising.
Polkomtel was not immediately available for comment.
