United Group has completed a €1.5 billion bond refinancing, extending maturities and lowering its cost of debt.
The telecoms and media group said strong investor demand enabled it to scale up a new floating rate notes (FRNs) transaction to €1.13 billion, while also refinancing its outstanding PIYC PIK notes.
United Group said the deal reduced the cost of its FRNs by 100 basis points and its PIYC PIK notes by 112.5 basis points. The group expects around €15 million in annual interest savings, alongside an extended debt maturity profile.
The refinancing follows a €400 million bond refinancing completed in December 2025 and comes after United Group’s Q3 results, which it said showed continued revenue and adjusted EBITDAaL growth, plus a further reduction in leverage.
CEO Stan Miller said the transaction reduced funding costs and represented “a further vote of confidence” from bond investors, adding that it strengthens financial flexibility as the group continues to execute its strategy in core EU markets.
