Infrastructure-based telecoms provider GTS Central Europe (GTSCE) has completed a €330m (US$409.6m) senior secured debt facility with a syndicate of European banks.
GTSCE, which owns and operates a fibre optic and data centre network in the…
Infrastructure-based telecoms provider GTS Central Europe (GTSCE) has completed a €330m (US$409.6m) senior secured debt facility with a syndicate of European banks.
GTSCE, which owns and operates a fibre optic and data centre network in the region, said it will use a portion of the proceeds to refinance existing bank debt, leaving at least 50% for acquisitions, capital expenditures and/or repayment of shareholder loans.
The new agreement affords the company sufficient liquidity to make acquisitions and develop and expand its network, it said in a statement.
In early March, the European Bank for Reconstruction and Development (EBRD) published a statement saying a syndicate of international banks were organising a €330m financing package for GTSCE to help fund its development in Hungary, Poland, Romania and Slovakia.
According to the EBRD statement, the package consists of €290m in term loans, part of a balance sheet restructuring intended to free up cash for capital investment, and a €40m acquisition/capex facility.
