Lenders reeling as adviser nabs top Polkomtel role
Deal-starved emerging market lenders have a new problem to contend with, after Polkomtel upturned the conventional order by appointing a non-lending financial adviser to co-ordinate its Z7.95bn ($2.43bn) refinancing, writes Michael Turner.
With the poor flow of transactions already heaping pressure on many lenders, the emergence of a new competitor has rattled loan syndicate teams. The Polish telecoms company appointed domestic boutique Trigon — a long term adviser to Polkomtel — to co-ordinate its deal after Trigon pitched the idea....
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