Danish incumbent TDC has announced it is prepaying approximately DKr8.2bn (E1.1bn) of outstanding debt under its Senior Facilities Agreement. The move will leave the telco with around DKr17.9bn (E2.4bn) of remaining senior debt facilities.
The operator…
Danish incumbent TDC has announced it is prepaying approximately DKr8.2bn (E1.1bn) of outstanding debt under its Senior Facilities Agreement. The move will leave the telco with around DKr17.9bn (E2.4bn) of remaining senior debt facilities.
The operator said it will use the proceeds from its recent E2.422bn divestment of Swiss mobile subsidiary Sunrise to pay down the debt. TDC announced the completion of its Sunrise sale to UK private equity firm CVC Capital Partners on October 28.
Meanwhile, TelecomFinance understands SEB Enskilda, JPMorgan and Morgan Stanley have been appointed to work with TDC’s private equity owners on a strategic review that could lead to an IPO.
It is possible that another two banks could be named as underwriters, with Goldman Sachs, UBS, JPMorgan, Morgan Stanley, Credit Suisse and BoA Merrill Lynch all thought to have pitched for the mandate.
TDC was unable to comment before the press deadline.
