Orange Switzerland’s parent Matterhorn Financing has completed the pricing of its €250m (US$326.3m) euro-denominated PIK toggle notes due 2019.
The 9%/9.75% senior PIK toggle notes will be issued at 100% of the principal amount, Matterhorn…
Orange Switzerland’s parent Matterhorn Financing has completed the pricing of its €250m (US$326.3m) euro-denominated PIK toggle notes due 2019.
The 9%/9.75% senior PIK toggle notes will be issued at 100% of the principal amount, Matterhorn announced.
The issuer will pay interest on the notes semi-annually in arrears, starting on 15 October.
Matterhorn announced plans for the offering yesterday.
As previously reported, the notes are to be offered in a private placement to institutional investors. Proceeds will be used to repay share capital and share premium to Matterhorn’s shareholders and to provide cash on the balance sheet.
Matterhorn is the holding vehicle for Orange Switzerland’s private equity owners led by Apax Partners, which completed its takeover of Orange in February 2012.
