Polkomtel nets zloty loan success
The uptake from banks willing to commit zloty to the Z7.591bn (€1.83bn) of senior loans backing the buy-out of Polkomtel by media entrepreneur Zygmunt Solorz-Zak has surprised even those bankers working on the deal, as syndication closed oversubscribed.
Just 118m of the facility will be denominated in euros, meaning that more than Z7bn has been raised in the local currency. The Polish telecoms firm intended to raise as much of the loan in zloty as possible to reduce its FX risk exposure.
The response has been phenomenal,
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