Poland’s second largest cable operator Multimedia Polska has issued seven-year bonds with a total value of PLN1.038 billion (€249.75 million).
The issue was organised by Bank Pekao, jointly with Raiffeisen Bank Poland, with the advisor being UniCredit CAIB Poland.
The bonds have been acquired by domestic institutional investors, including pension funds, investment funds and banks, and the funds will be used to refinance existing debt, with approximately PLN760 million allocated to repay existing bonds.
Multimedia Polska now plans to raise around PLN500 million in additional debt and expects the credit to be granted to it in the coming weeks.
It will be used for acquisition, in order to raise the operator’s share of the Polish cable market from the current 18% to 25% within the next 3-4 years.
