The TDC-backed Hungarian telco HTCC has announced that it is to float rate senior notes to the value of €200 million through its subsidiary HTCC Holdco ll B.V. The money raised will be partly used to finance the acquisition of Invitel from American International Group and GMT Communication Partners in a €470 million deal first announced in January. It will also help reduce the debts of the HTCC companies PanTel and Hungarotel. HTCC is 63% owned by Denmark’s TDC, and following the acquisition of the telephony, Internet and data provider Invitel it will account for around 20% of the Hungarian telecom market. PanTel is a leading provider of infrastructure for cable operators offering VoIP and is expected to launch an IPTV service, competing directly with the incumbent’s T-Home TV platform, sometime this year.
