PPF Telecom Group B.V. has issued another batch of Eurobonds worth half a billion euros. The senior secured bonds are for seven years and carry a fixed annual coupon rate of 3.25 percent.
The sale is PPF’s fourth offering within eighteen months. In May this year, Eurobonds worth half a billion euros were also sold, in January they sold one hundred million euros, and last year 550 million euros.
“Despite the restrictions brought about by the pandemic, we maintain an ongoing dialogue with the market. . . . Our fourth offering within eighteen months, issued on the backdrop of sound financial results for the first half of the year, has received a strong support from a diversified group of international investors. With this long bond we further develop our yield curve and extend the maturity of our credit. All net proceeds from the Bond will be used for repayment of the existing bank loan facilities of PPF Telecom Group,” Kateřina Jirásková, CFO of PPF Group, said.
In addition to CETIN and O2 in the Czech Republic and Slovakia, the PPF Telecom Group, which has been renamed from PPF Arena 1, includes Telenor operators in Serbia, Montenegro, Hungary, and Bulgaria. It was Telenor that bought PPF for 2.8 billion euros, for which it used a syndicated loan.
The money raised through the sale of bonds goes to paying off debts. “All proceeds from the sale of bonds will be used to repay existing bank loans of the PPF Telecom Group,” Jirásková also said.
There is interest in the bonds of the telecommunications group. Consolidated sales for the first half of this year alone rose to 1.54 billion euros with a profit of 700 million euros. Last year, sales amounted to 3.2 billion with a profit of 1.4 billion euros. Investors from Western Europe, in particular, took part in the current round of bonds. Thirty percent of investors are from Great Britain, 27 percent from Germany, 13 percent from France, and seven percent from Switzerland.
PPF Telecom Group B.V. has issued another batch of Eurobonds worth half a billion euros. The senior secured bonds are for seven years and carry a fixed annual coupon rate of 3.25 percent.
The sale is PPF’s fourth offering within eighteen months. In May this year, Eurobonds worth half a billion euros were also sold, in January they sold one hundred million euros, and last year 550 million euros.
“Despite the restrictions brought about by the pandemic, we maintain an ongoing dialogue with the market. . . . Our fourth offering within eighteen months, issued on the backdrop of sound financial results for the first half of the year, has received a strong support from a diversified group of international investors. With this long bond we further develop our yield curve and extend the maturity of our credit. All net proceeds from the Bond will be used for repayment of the existing bank loan facilities of PPF Telecom Group,” Kateřina Jirásková, CFO of PPF Group, said.
In addition to CETIN and O2 in the Czech Republic and Slovakia, the PPF Telecom Group, which has been renamed from PPF Arena 1, includes Telenor operators in Serbia, Montenegro, Hungary, and Bulgaria. It was Telenor that bought PPF for 2.8 billion euros, for which it used a syndicated loan.
The money raised through the sale of bonds goes to paying off debts. “All proceeds from the sale of bonds will be used to repay existing bank loans of the PPF Telecom Group,” Jirásková also said.
There is interest in the bonds of the telecommunications group. Consolidated sales for the first half of this year alone rose to 1.54 billion euros with a profit of 700 million euros. Last year, sales amounted to 3.2 billion with a profit of 1.4 billion euros. Investors from Western Europe, in particular, took part in the current round of bonds. Thirty percent of investors are from Great Britain, 27 percent from Germany, 13 percent from France, and seven percent from Switzerland.