Baltic telco Bitė preps dividend deal and bond market return

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By Owen Sanderson
06 Jul 2020

Bitė, a mobile, broadband and pay TV firm in the Baltic region and a portfolio company of Providence Private Equity, is prepping a dividend recap and refinancing of its whole capital structure, funded by a dual tranche high yield bond offering. This marks the company’s return to bond markets after nearly five years financed through loans.

The deal will be €620m of 5.5 year senior secured bonds, split between an FRN and fixed rate tranche, which will fund (along with cash on balance sheet) repayment of the existing €449m in loans, and a €185m dividend.

Citi and Deutsche Bank are joint global coordinators, alongside ...

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