MasMovil preps bond leg of LBO takeout

Masmovil from company 575x375
By Owen Sanderson
21 Sep 2020

Spanish telecoms group MasMovil is preparing a €720m bond, the second part of the financing for its take-private by Cinven, KKR and Providence Private Equity. Most of the €2.9bn financing came through a loan issue, allocated in July, with the bonds readied following shareholder acceptance for the offer last week.

The loan issue was announced as a €1.5bn issue, and increased to €2bn in general syndication, before another €200m was added on — derisking the deal while the take-private offer to shareholders was running over the summer. Shareholders backed the offer last week, with 86% approval, clearing ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial