Bulgarian telco Vivacom is looking to raise €400m (US$536m) by issuing euro-denominated notes to refinance debt.
The potential five-year offering is being led by VTB Capital and Credit Suisse. Barclays, Deutsche Bank and Societe Generale are also…
Bulgarian telco Vivacom is looking to raise €400m (US$536m) by issuing euro-denominated notes to refinance debt.
The potential five-year offering is being led by VTB Capital and Credit Suisse. Barclays, Deutsche Bank and Societe Generale are also working on the issue.
In a statement Vivacom said the proceeds would be used to refinance existing obligations, without expanding.
The notes, which were rated BB- by Standard & Poor’s, will be listed on the Irish stock exchange.
At the start of October, the Bulgarian government converted its golden share in Vivacom into a common share and delisted the company. The golden share had given the government the right to veto certain decisions.
Viva Telecom Bulgaria, owned by affiliates of the Bulgaria’s Corporate Commercial Bank and Russia’s VTB Bank, holds all Vivacom ordinary shares.
