Finnish mobile operator DNA has raised €100m (US$135m) in its first ever bond.
Maturing in 2018, the notes have a re-offer price of 99.52% and carry a 2.625% coupon.
Danske Bank and Nordea Markets are lead arrangers, and the bond will be issued on 28…
Finnish mobile operator DNA has raised €100m (US$135m) in its first ever bond.
Maturing in 2018, the notes have a re-offer price of 99.52% and carry a 2.625% coupon.
Danske Bank and Nordea Markets are lead arrangers, and the bond will be issued on 28 November, according to a company statement.
Proceeds will be used for general corporate purposes.
DNA CFO Timo Karppinen said: “Our bond was quickly oversubscribed and we are delighted for the positive response.”
Last month the group’s fourth largest shareholder agreed to sell its 12.97% stake to two of the operator’s larger holding companies for a total €103m (US$139.3m).
KPY Sijoitus said it will equally split its 1,099,596 shares in DNA – which is owned by former regional telcos that became holding companies – between Finda and PHP Holding.
The move will see Finda, already DNA’s largest shareholder, increase its stake to 39.05%. It came shortly after DNA’s owners called off a €1bn sale of the telco in July.
