Portuguese cable and satellite television operator Zon Multimedia plans to launch a public bond offering with an initial value of up to €100m (US$125.9m), although this may be increased up until 6 June.
Zon will issue the 100,000 bonds, with a nominal…
Portuguese cable and satellite television operator Zon Multimedia plans to launch a public bond offering with an initial value of up to €100m (US$125.9m), although this may be increased up until 6 June.
Zon will issue the 100,000 bonds, with a nominal value of €1,000 each, on 28 May, the company said in a statement. The subscription period is set to run from 28 May to 14 June.
The three-year bonds have a fixed interest rate of 6.85% per annum and mature on 19 June 2015.
The bonds are set to be placed by BPI, global coordinator and co-lead arranger for the transaction. Espirito Santo Investment Bank (BESI) and Banif Financial Group are co-leads, while the underwriting banks comprise BPI, Banco Espirito Santo (BES), Banco Best, Banif, Banco Popular and Banco Bilbao Vizcaya Argentaria (BBVA).
In early May, Isabel Jose dos Santos, the entrepreneurial daughter of the Angolan president, completed the purchase of Spanish telco Telefonica’s 4.918% stake in Zon. In doing so she became the largest shareholder in the company having already held a 10% stake via Kento Holding.
