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Polkomtel sells $320m in bonds
31 August 2010
Polish mobile operator Polkomtel has sold bonds worth $319m to fund operations and refinance debt
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Polkomtel
Poland
BNP Paribas and Bank Pekao
UniCredit
Polkomtel, the largest mobile operator in Poland, has sold $319 million worth of bonds, according to reports. The notes maturing in September 2015 will trade on BondSpot market and will be registered in the KDPW depository.
The proceeds from the offerings will be used to finance Polkomtel’s operations and refinance debt. The sale of zloty-denominated bonds was managed by BNP Paribas and Bank Pekao unit of UniCredit. In May, Polkomtel — which markets in Poland under a number of brands, including Plus — signed a deal with the banks for the sale of up to $1.27 billion or its equivalent worth of bonds.
The notes, issued from Polkomtel’s euro medium term notes programme, were priced to yield 170 basis points above the six-month Warsaw Interbank Offered Rate. Buyers subscribed for “significantly” more bonds than offered, with almost 60% of the securities acquired by Polish pension funds. GTB