The CEO of Spanish cable firm ONO expects the company to list on the stock market within a year.
Earlier this month the company completed a E3.6bn debt restructuring and is poised to launch a bond issue in the coming months.
Germany’s KDG has already…
The CEO of Spanish cable firm ONO expects the company to list on the stock market within a year.
Earlier this month the company completed a E3.6bn debt restructuring and is poised to launch a bond issue in the coming months.
Germany’s KDG has already floated on the stock market this year as confidence in equity markets slowly continues to increase. Dutch cable firm Ziggo is also expected to go ahead with an IPO with TelecomFinance sources suggesting that that will be an early 2011 deal.
It now appears that ONO will follow suit after CEO Rosalia Portela told reporters that the plan was to list within twelve months.
According to banking sources the high-yield bond issue would be done on an opportunistic basis and ‘there may be a window for them in May or June’.
Private equity firms Providence, Thomas H. Lee Partners, Quadrangle and GE Structured Finance and banks Caja Espana and Santander are among ONO’s owners.
Goldman Sachs advised ONO on its recent refinancing.
