United Group scores deal size boost in drive-by

United Group
By Owen Sanderson
24 Nov 2020

Balkan telecoms and cable company United Group slipped into the high yield market on Monday to launch a drive-by bond as it released its earnings results, seizing on strong market conditions to repay its revolving credit facility and part-fund the purchase of Greece’s Forthnet.

The bond was increased from €350m to €400m and priced at the tight end of guidance but telecoms companies have not been swept up in the Covid-19 vaccine euphoria that has sent cruise ship operator Carnival’s unsecured deal from last Friday up by more than four points already.

United Group ...

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