Spanish cable operator Ono is set to launch a high yield bond involving six banks, TelecomFinance has learned. The senior unsecured E500m note has a tenor of eight years, and is non-callable for three years. Deutsche Bank and BoA Merrill Lynch are joint…
Spanish cable operator Ono is set to launch a high yield bond involving six banks, TelecomFinance has learned. The senior unsecured E500m note has a tenor of eight years, and is non-callable for three years. Deutsche Bank and BoA Merrill Lynch are joint bookrunners, with BNP, CA, SG and Santander coming on board as the largest lenders.
The issue will be used to refinance senior bank debt maturing in 2013.
The roadshow is due to launch in London tomorrow, with pricing expected on Thursday or Friday.
The launch is expected to be favourable, on the back of the debt agreements around Switzerland’s Swisscom, the subject of a E2.5bn LBO by CVC Capital.
