Portuguese quad-play operator Zon Optimus has completed a €100m (US$137m) bond issue led by Banco BPI through a private offering.
The 5.5-year notes were issued to replace a 2010 €100m bond offering from cableco Zon, which at the time had not been…
Portuguese quad-play operator Zon Optimus has completed a €100m (US$137m) bond issue led by Banco BPI through a private offering.
The 5.5-year notes were issued to replace a 2010 €100m bond offering from cableco Zon, which at the time had not been merged with local mobile operator Optimus. Banco BPI had also arranged this transaction.
The new 2019 notes will be fully redeemed at the end of their term, their interest rate is floating and the first coupon is due in November 2014.
Zon Optimus, which completed its merger last August, said this transaction increases the average maturity while reducing the all-in average cost of its net financial debt. The company is financed until the first quarter of 2015.
In November, the telecoms group secured a €110m loan from the European Investment Bank (EIB) to invest in its mobile broadband network.
