Vivacom plans to issue EUR400m in bonds

11 Nov 2013

The Bulgarian fixed line and wireless operator Vivacom, which was formerly known as BTC, has announced that it is considering issuing bonds for EUR400 million (USD534.96 million) in order to refinance its existing obligations. According to a company press release, the bonds will be listed on the Irish Stock Exchange (ISE) for a five-year period; Credit Suisse (B&D) and VTB Capital Bank will act as coordinators for the deal, while Barclays and Deutsche Bank will be intermediates and Societe Generale will assume the role of co-manager of the listing.

According to TeleGeography’s CommsUpdate, in November 2012 a majority interest in Vivacom was acquired by Viva Telecom Bulgaria (VTB), a holding company controlled by Russia’s VTB Capital Bank and Bulgaria’s Corporate Commercial Bank (CCB). VTB paid EUR130 million (USD165 million) for a 93.99% stake in Vivacom, as well as agreeing to pay off EUR588 million of debt. By end-August 2013 the new majority owner had acquired all of the telco’s shares; three months later the company changed its legal status to a stock company, and was de-listed from the Bulgarian Stock Exchange (CBSE).

Bulgaria,Vivacom (BTC), VTB Group,

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