Swedish cableco Com Hem could price a SEK3.5bn (US$536m) high-yield bond by the end of the week, reported Reuters.
A person briefed on the matter confirmed to TelecomFinance that such a bond was out in the market, but that there was no definitive…
Swedish cableco Com Hem could price a SEK3.5bn (US$536m) high-yield bond by the end of the week, reported Reuters.
A person briefed on the matter confirmed to TelecomFinance that such a bond was out in the market, but that there was no definitive timetable on when it will be priced.
The transaction is part of the bridge loans to high-yield bonds that supported the group’s PE sale by Carlyle and Providence to BC Partners in July.
If successfully priced, the Reuters report suggests a smaller subordinated high-yield could follow next week.
No financial details have been released about the sale of Com Hem, and BC Partners was unable to comment on the speculation.
Reports suggest that a total of SEK13.2bn ($2bn) of debt was used to finance the deal, underwritten by banks including Goldman Sachs, Nordea, UBS, Deutsche Bank, BofA Merrill Lynch, and Morgan Stanley. This total debt includes SEK7.1bn (US$1.09bn) of senior secured loans, reported Reuters.
TelecomFinance understands that Goldman Sachs was the lead arranger on the debt financing.
BC Partners was financially advised by UBS and Goldman Sachs, with Dickson Minto and Lindahl acting as legal advisers.
Mannheimer Swartling and Latham & Watkins were the legal advisers to the vendors.
