Iliad, the parent company of French ISP Free, has raised E500m through its first bond issue.
The bonds, which bear a coupon of 4.875%, will be redeemed at par upon maturity on June 1, 2016.
Iliad does not have a rating from credit agencies.
In a…
Iliad, the parent company of French ISP Free, has raised E500m through its first bond issue.
The bonds, which bear a coupon of 4.875%, will be redeemed at par upon maturity on June 1, 2016.
Iliad does not have a rating from credit agencies.
In a release, the company said: “With this inaugural bond issue, Iliad benefits from favourable market conditions to diversify its sources of funding and extend the maturity of its debt.”
Iliad also said that the issue was oversubscribed with demand of E1.5bn.
Credit Agricole, HSBC, Natixis and Societe Generale were joint-bookrunners of the transaction, while BNP Paribas, Santander and WestLB were co-leads.
Iliad announced 4.661 million subscribers and E509.8m consolidated revenues for Q1.
