Hungary
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Czech investment fund PPF Group has kicked off the syndication of a €3.025bn loan, which it is using to fund the acquisition of Norwegian telecoms group Telenor’s central and eastern European operations. -
Czech investment fund PPF is in the market to syndicate a €3.025bn loan to fund the acquisition of Norwegian telecoms group Telenor’s central eastern European business. The loan is split into two term loans and a revolving credit facility.
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Hungary has priced its first Japanese yen deal in over a decade, achieving its lowest ever funding cost, as its love affair with Asian currencies for diversification continues.
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Digi Communications’ Hungarian subsidiary has refinanced part of a €200m bridge loan provided by Citigroup and ING in October last year, which was used to fund the acquisition of a subsidiary of fellow Hungarian communications company Invitel.
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The Philippines postpones its Panda bond deal as it awaits approval from China’s central bank, Hong Kong Exchanges and Clearing (HKEX) opens its first office in Singapore, and the renminbi falls to seventh place in the league table of the world’s most used payments currency in October.
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Hungarian oil and gas company MOL has launched a €600m syndicated loan, for which banks are expected to send in commitments over the next two weeks.
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Digi Communications’ Hungarian subsidiary signed a €200m bridge loan on Friday to finance its acquisition of compatriot communications company Invitel Tavkozlesi, a subsidiary of Invitel group. The lead banks have launched the syndication and held a bank meeting on Tuesday.
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After several years financing in the domestic and Asian markets, Hungary turned its attention to the next stage of reducing its external liabilities this week, and was overwhelmed by the positive response to its dollar euro switch, György Barcza, chief executive of Hungary’s debt management agency (AKK), told GlobalCapital.
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Hungary had taken books of €5.75bn for its new euro benchmark on Wednesday, after announcing that investors had agreed to tender $3.3bn of its outstanding dollar notes.
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Hungary is set to take advantage of lower rates in euros to buy back its more expensive outstanding dollar debt.
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UniCredit syndicated a loan it underwrote for Hungarian communications company Invitel in January to five banks last week.
