Polish mobile operator Polkomtel is reportedly seeking to refinance a US$1.76bn loan it obtained to support media tycoon Zygmunt Solarz-Zak’s buyout of the company in late 2011.
Financial publication Euroweek reported that Polkomtel, which operates…
Polish mobile operator Polkomtel is reportedly seeking to refinance a US$1.76bn loan it obtained to support media tycoon Zygmunt Solarz-Zak’s buyout of the company in late 2011.
Financial publication Euroweek reported that Polkomtel, which operates under the brand name Plus, has sent requests for proposals for the refinancing to Polish banks.
Solarz-Zak’s Spartan Capital Holdings finalised its acquisition of Polkomtel for PLN18.1bn (US$5.6bn) in November 2011. Credit Agricole and Deutsche Bank were global coordinators of the US$4.35bn loan package to support the buyout.
In January 2012, Polkomtel placed US$1.2bn in corporate bonds and, the following month, sold US$201m in PIK notes to refinance debt.
Polkomtel declined to comment on the report, saying talks regarding its debt are confidential.
