Ceska telekomunikacni infrastruktura (Cetin), the recently spun-off infrastructure arm of investment group PPF’s O2 Czech Republic, has closed its Kc32.2bn (US$1.3bn) senior secured loan facility.
PPF, controlled by Czech billionaire Petr Kellner,…
Ceska telekomunikacni infrastruktura (Cetin), the recently spun-off infrastructure arm of investment group PPF’s O2 Czech Republic, has closed its Kc32.2bn (US$1.3bn) senior secured loan facility.
PPF, controlled by Czech billionaire Petr Kellner, announced in late May that it would request financial aid of up to Kc32.2bn from Cetin to help repay the loan it took out to acquire a majority stake in O2 CR from Telefonica in 2014.
The new debt facility consists of a three-year bullet term loan of Kc10.2bn (US$419.8m) and a seven-year bullet term loan of Kc22bn (US$905.3m), PPF and the involved banks said in a statement.
The transaction was two times oversubscribed, they said.
Joint coordinators, mandated lead arrangers and bookrunners for the transaction were Banca IMI, BNP Paribas,Ceskoslovenska obchodni banka, ING Bank, Komercni banka, Societe Generale and Unicredit Bank Czech Republic and Slovakia. Societe Generale acted as facility agent, and Komercni banka as security agent.
The following banks joined the facilities as MLAs: Bank of China (Hungarian branch), Ceska Sporitelna, Citibank Europe, Credit Agricole, Raiffeisen Bank, Tatra banka, Vseobenca uverova banka and Vseobenca uverova banka, pobocka Praha.
Cetin was formed in June this year when O2 spun off its network into a new entity. Cetin is a wholesale provider of fixed and mobile infrastructure to other telecoms operators, including O2 CR. Meanwhile, O2 CR, the country’s largest telco, continues to provide fixed and mobile services to retail and business customers.
PPF is the majority owner of both O2 CR and Cetin.
