Salt Mobile €642 million notes issues

Overview:

• Matterhorn Telecom - the ultimate parent company of Salt Mobile - has issued €525 million in floating rate senior secured notes alongside Matterhorn Telecom Holding which has issued an additional €117 million 4.875% senior notes due 2023.
• The issue was preceded by a consent solicitation for certain amendments to the existing indentures as well as an offer by Metterhorn Telecom for the purchase and solicitation of its outstanding floating rate senior secured notes due 2022.
• Net proceeds from the issue will be used to make a distribution to the issuers' shareholder by December 31, 2017.
• The initial purchasers were led by Goldman Sachs International and included Credit Suisse Securities and Société Générale. All three served as solicitation agents and dealer managers.
• Salt, formerly Orange Switzerland, is the third largest mobile network in Switzerland.

Jon Moore - Journalist