Polkomtel to cut bond by €300m, increase term loan ‘B’

Arrangers of Polkomtel’s Z6.394bn (€1.55bn) senior buy-out loans have gone out to banks with a view to increasing the company’s Z2.394bn (€573m) term loan ‘B’ by the zloty equivalent of €300m, and decreasing the euro-denominated high yield bond by the same amount, according to a banker.

  • 19 Aug 2011

The lead banks on the deal either declined to comment formally or could not be reached for confirmation.

The response to the increased 6.5 year tranche — which will pay 450bp — has so far been positive, the banker said.

Around €5bn of bridge to bond loans, underwritten to support ...

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