Belgian incumbent Belgacom has acquired 51.5% of its outstanding bonds, due November 2011, from their holders for a total of E398.9m.
On 2 March, the company invited holders to tender these outstanding 4.125% notes back to the company for cash. This…
Belgian incumbent Belgacom has acquired 51.5% of its outstanding bonds, due November 2011, from their holders for a total of E398.9m.
On 2 March, the company invited holders to tender these outstanding 4.125% notes back to the company for cash. This offer expired on 8 March.
In a statement yesterday announcing the results of the buyback, Belgacom said it allows the company to “successfully rationalise its outstanding debt portfolio whilst at the same time optimising its liquidity management”.
BNP Paribas and Oddo Corporate Finance acted as dealer managers.
