Norway’s Telenor has priced a multicurrency bond worth around US$1.35bn to support its acquisition of Bulgarian mobile operator Globul.
The Norwegian telecoms incumbent priced a 1.75% US$500m bond due 2018 at 99.787, and €650m in 2.5% notes due 2025…
Norway’s Telenor has priced a multicurrency bond worth around US$1.35bn to support its acquisition of Bulgarian mobile operator Globul.
The Norwegian telecoms incumbent priced a 1.75% US$500m bond due 2018 at 99.787, and €650m in 2.5% notes due 2025 at 99.836.
Barclays, JP Morgan, RBS and SEB arranged the bond.
Both tranches will settle on 22 May 2013.
“Proceeds will be used for general corporate purposes including funding of the announced acquisition of Globul in Bulgaria,” stated Telenor in a stock exchange announcement.
Late last month Telenor agreed to buy Bulgaria’s second-largest mobile operator from Greek telco OTE for €717m on a cash and debt-free basis.
The move is part of a further push into Central and Eastern Europe, where it already operates in Serbia, Hungary and Montenegro.
OTE is being financially advised by Citigroup on the deal, which will help the group reduce its debt as Greece tackles the eurozone’s financial crisis.
