Poland’s second largest cable operator Multimedia Polska has issued five-year bonds with a total value of PLN250 million (€57.9 million).
In a statement, the company says that they have been acquired by a number of local institutional investors, including OFE, TF1 and banks.
It adds that around PLN180 million of the money raised will be used to refinance existing debts, with the remaining PLN70 million, plus several hundred million zlotys raised through revenues, for medium-sized acquisitions.
Following the bond issue, Multimedia Polska’s net debt has risen by around PLN70 million to almost PLN970 million.
This, considering its EBITDA, is according to the company at a very manageable level.