United Group, the leading telecommunications and media company in South East Europe, is pleased to announce the successful refinancing of €600 million of senior secured bonds due 2026 through the placement of new €750 million of senior secured bonds.
In addition to the refinancing of the above notes, the proceeds of the offering will be used to repay amounts drawn on the existing senior revolving credit facility. Following this refinancing, United Group’s net indebtedness will remain unchanged.
The new 7-year senior secured notes will pay a fixed rate of 6,500% and are rated B2 by Moody’s and B by S&P.
Janez Zhivko, Vice President of Finance at United Group, commented:
“We are pleased with the strong demand for our new seven-year bonds worth €750 million. This transaction is in line with our financial strategy to proactively settle short-term debt and build a stable long-term financial structure. The refinancing comes on the back of sustained revenue growth and adjusted EBITDAal of 28% and 25% CAGR over 2015-2023, respectively, driven by a combination of organic growth and acquisitions. It also follows the successful refinancing round of €1.73 billion in January 2024.