Belgian incumbent Belgacom is inviting holders of its outstanding 4.125% bonds due November 2011 to sell their notes back to the operator for cash.
The operator has pledged to pay E51,050 for each E50,000 in nominal amount of the notes…
Belgian incumbent Belgacom is inviting holders of its outstanding 4.125% bonds due November 2011 to sell their notes back to the operator for cash.
The operator has pledged to pay E51,050 for each E50,000 in nominal amount of the notes accepted.
“Belgacom proposes the offer in the framework of refinancing and subsequently rationalising its outstanding debt and in order to reduce its gross debt and optimise its cash position,” the company said in a statement today.
The offer, which is available until 8 March, will be fully financed with available cash. Belgacom will announce results of the offer on 9 March.
BNP Paribas and Oddo Corporate Finance are managing the buyback.
