The Hungarian incumbent Magyar Telekom has raised HUF70.83 billion (€196 million) in a successful bond auction.
Commenting on the development, Tibor Rékasi, Magyar Telekom’s CEO, said: “Today’s bond issue transaction is the most sizeable one in our corporate history thus far. In line with our earlier communication our ambition is to use the proceeds of the bonds to fund investments related to the Company’s fixed and mobile network roll-out and modernisation as well as frequency licence acquisitions in the upcoming period”.
Darja Dodonova, Magyar Telekom’s CFO, added: “I’m very glad that we have seen significant interest from potential lenders allowing us to achieve forint denominated financing at competitive terms”.
The company has it will initiate the registration of the bonds to the Xbond multilateral trading platform of the Budapest Stock Exchange within 90 days following the issuance.
