Once-distressed Bité to refi bonds and PIK with €200m FRN

UAB Bité Lietuva, a Lithuanian mobile telecom operator, has announced plans to sell €200m of high yield bonds to refinance existing notes, four years after a distressed exchange on its subordinated debt.

  • 28 Jan 2013

Global coordinator Deutsche Bank and bookrunner Credit Suisse have organised investor meetings in London and Paris from Monday to Wednesday.

Bité wants to issue 2018 senior secured floating rate notes, callable after two years. Moody’s and Standard & Poor’s have not yet published expected issue ratings, but Fitch expects ...

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5 Morgan Stanley 1,261.20 10 7.10%

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1 BNP Paribas 2,459.18 9 10.09%
2 UniCredit 1,892.23 6 7.76%
3 Bank of America Merrill Lynch 1,585.30 5 6.50%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.47%
5 ING 1,477.05 5 6.06%