Ono to refinance term loan ‘A’ through seven year secured bonds
Grupo Corporativo Ono, the Spanish cable operator, is looking to sell a €250m senior secured high yield bond. The 2020 notes will be issued through its special purpose vehicle Nara Cable Funding.
The frequent issuer will use the proceeds to prepay some of its term loan A bank facility. The new bond will constitute a new tranche under its senior facility agreement.
After the prepayment, no amortisation payments will come due until 2016, Ono said in a statement.
Deutsche Bank, BBVA and
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