Portuguese cableco Zon Multimedia has raised €200m in a bond issue – twice the amount it was originally seeking when plans for the issue were first announced late last month.
The 200,000 three-year bonds valued at €1,000 each have a gross nominal…
Portuguese cableco Zon Multimedia has raised €200m in a bond issue – twice the amount it was originally seeking when plans for the issue were first announced late last month.
The 200,000 three-year bonds valued at €1,000 each have a gross nominal fixed interest rate of 6.85%, equal to a gross effective rate of 6.97%, according to a company statement. They mature on 19 June 2015.
On 25 May, Zon announced plans to launch a public bond offering on the NYSE Euronext with an initial value of €100m – a sum it could increase up until 6 June.
Zon said the initial €100m offering was subscribed on 31 May – four days into the subscription period – and the company decided on 6 June to double the issue.
Settlement is set to take place tomorrow (19 June).
BPI is the global co-ordinator and co-leader of the issue and Espirito Santo Investment Bank and Banif Investment Bank are co-leaders.
Last week, Angolan investor Isabel dos Santos agreed to increase her stake in the cableco, which has a market capitalisation of about €655m, by 10.96% to 28.8%.
