Portuguese quad-play operator Nos has launched two new commercial paper (CP) programmes worth a total €175m (US$197.5m), which will replace existing credit facilities.
It has secured a €100m CP due August 2018 with Caixa Geral de Depositos which…
Portuguese quad-play operator Nos has launched two new commercial paper (CP) programmes worth a total €175m (US$197.5m), which will replace existing credit facilities.
It has secured a €100m CP due August 2018 with Caixa Geral de Depositos which refinances a similar programme due February 2015, and a €75m facility maturing in December 2018 with Novo Banco, which will replace a €150m credit line due February 2016.
These new programmes will allow the telco to “extend debt maturities and achieve further significant reductions in the all-in average cost of debt”, the company said in a securities filing.
Last September, the Lisbon-based operator issued a €175m bond to refinance existing debt.
Nos, which is Portugal’s second-largest player behind Portugal Telecom, was created in 2013 following the merger of cableco Zon and wireless operator Optimus.
