Spanish cable operator Ono is working to refinance €1.4bn (US$1.9bn) of short-term debt, TelecomFinance has confirmed.
A person familiar with the situation said that no deal had been closed and that any such deal would depend on many circumstances,…
Spanish cable operator Ono is working to refinance €1.4bn (US$1.9bn) of short-term debt, TelecomFinance has confirmed.
A person familiar with the situation said that no deal had been closed and that any such deal would depend on many circumstances, including market conditions.
The first maturities for its debt come up in June 2013. But TelecomFinance understands that Ono is looking to refinance the debt before this date.
Reuters reported yesterday that Ono was in the early stages of refinancing €1.4bn of loans. Citing bankers, Reuters reported that Societe Generale is the agent for the deal, while Santander is also close to the transaction.
In February, Ono closed a US$1bn bond issue. The operator had originally planned a US$400m bond, but more than doubled its size after strong investor demand.
