The Supervisory Board of the telecommunications operator Telekom Serbia convened an extraordinary shareholders’ assembly for September 15 with the main item on the agenda concerning the issue of corporate bonds, the brokers of the stock exchange house “Momentum Securities” confirmed for Nova.
The company plans to issue corporate bonds with a nominal value of about 200 million euros and 20 thousand euros corporate bonds with an individual nominal value of 80 euros, Telekom Serbia announced in documents prepared for the shareholders’ assembly scheduled for September 15.
The planned maturity of the bonds is five years, and the interest rate is up to 3.25 percent + three-month BELIBOR. The bonds are intended for qualified investors, and the issue will be conducted without publishing a prospectus.
As stated in the reasoning of the decision, the bonds are issued “for the purpose of financing the company’s business needs, including refinancing of existing financial obligations and financing the improvement of business activities”.
As already announced, after a series of takeovers of domestic cable operators, the company’s net debt reached 1.15 billion euros at the end of 2019, Nova reports.
