Tag Archives: Invitel Távközlési Zrt.

Digi Communications priced EUR 200M 5.0 percent additional senior secured notes due 2023

BUCHAREST, Romania, 8-Feb-2019 — /EPR FINANCIAL NEWS/ — The Company would like to inform the market and its investors that on 7 February 2019 it successfully priced €200,000,000 5.0% senior secured notes due 2023 (the “Additional Notes”) to be consolidated and treated as a single class with the existing €350,000,000 5.0% senior secured notes due 2023 (the “Original Notes”) – the “Offering”.

The Additional Notes are expected to settle on 12 February 2019.

The Additional Notes have a yield to maturity of 4.578% and the gross proceeds of the Offering are €203,500,000 plus interest deemed to have accrued from (and including) October 15, 2018 (the last date on which interest on the Original Notes was paid) to 12 February 2019 (the settlement date).

Citigroup Global Markets Ltd. acted as the Sole Global Coordinator and Physical Bookrunner in relation to this Offering.

SOURCE: EuropaWire

Citigroup Global Markets Ltd. will act as the Sole Global Coordinator and Physical Bookrunner Digi Communications N.V.’s additional €125 million senior secured notes

BUCHAREST, Romania, 6-Feb-2019 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform the market and its investors that, on 6 February 2019, it decided to offer (the “Offering”) additional €125,000,000 5.0% senior secured notes due 2023 (the “Additional Notes”), to be consolidated and treated as a single class with the existing  €350,000,000 5.0% senior secured notes due 2023 (the “Original Notes”, and, together with the Additional Notes, the “Notes”) issued by the Company under the Indenture originally dated October 26, 2016 and supplemented on June 8, 2017 and June 28, 2018 (the “Indenture”), which are currently listed on the official list (the “Official List”) and trading on the regulated market (the “Main Securities Market”) of the Irish Stock Exchange plc (trading as Euronext Dublin).

The Additional Notes will be offered solely to (1) “qualified institutional buyers” within the meaning of Rule 144A under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or (2) Non-U.S. persons purchasing the Additional Notes outside the United States in reliance on Regulation S under the U.S. Securities Act. The Additional Notes will not be offered to any person or in any jurisdiction if this would be unlawful or would require any approval.

Citigroup Global Markets Ltd. will act as the Sole Global Coordinator and Physical Bookrunner in relation to the Offering.

The Additional Notes will be consolidated and treated as a single class with the Original Notes. The minimum denomination of the Additional Notes will be, as for the Original Notes, €100,000. The Additional Notes will have identical terms and conditions in all respects as the Original Notes, including, without limitation, with respect to payments of interest, waivers, amendments, redemptions and offers to purchase. The Additional Notes will be fully fungible with the Original Notes, subject to certain temporary restrictions designed to ensure compliance with applicable provisions of the US law.

For more information, please visit the original release on EuropaWire.

Digi Communications N.V.: Digi HU’s ownership and control over Invitel is not affected by the GVH’s decision to reassess the acquisition

BUCHAREST, Romania, 15-Nov-2018 — /EPR FINANCIAL NEWS/ — We would like to inform the market and our investors that, in connection with the decision issued by the Hungarian Competition Authority (Gazdasági Versenyhivatal – “GVH”) in May 2018 (the “Initial Decision”) approving the acquisition by our Hungarian subsidiary – DIGI Távközlési és Szolgáltató Kft. (“Digi HU”), as the purchaser, of shares representing in total 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. (“Invitel”) from Ilford Holding Kft. and InviTechnocom Kft., acting as sellers (the “Transaction” – the completion of which we have disclosed to the market on 30 May 2018), on 14 November 2018, the GVH issued several decisions whereby it formally withdrew the Initial Decision and it opened a new investigation (“New Procedure”) for reassessing limited aspects in connection with certain settlements where i-TV Digitális Távközlési Zrt. (“i-TV” – one of Digi HU’s subsidiaries in Hungary) and Invitel overlap.

GVH’s stated reason for withdrawing the Initial Decision is based on allegations that Digi HU has failed to proactively comment during the initial assessment on certain data regarding the territorial scope of certain telecommunications services provided by i-TV, which has been used by the GVH in its Initial Decision. On that basis, the GVH also imposed a fine on Digi HU of approximately EUR 280,000 (HUF 90,000,000).

Digi HU’s ownership and control over Invitel is not affected by the above-mentioned GVH’s decisions, as the GVH simultaneously decided on 14 November 2018 to allow Digi HU to continue to exercise control over Invitel (“Exemption Decision”) before the issuance by the GVH of a new decision on the Transaction. As a consequence, on the basis of the Exemption Decision, the implementation by Digi HU of the Transaction is not affected by the GVH’s New Procedure, except for certain limited behavioral restrictions from the Initial Decision that were reinstated.

In relation to the operation of i-TV, the GVH imposed certain behavioral interim obligations on Digi HU until the completion of the New Procedure. i-TV represents a minor part of DIGI HU’s business in Hungary.

We continue to strongly hold that Digi HU fully cooperated during the initial procedure by providing complete and accurate information, and that the GVH’s decision to withdraw the Initial Decision and to apply a fine is incorrect.

Meanwhile, we will continue to fully and in good faith cooperate with the GVH during the New Procedure in order to ensure that a new decision re-approving the Transaction is finalized as soon as possible.

SOURCE: EuropaWire

Digi Communications NV’s subsidiary in Hungary DIGI Távközlési és Szolgáltató Kft. acquires 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. for EUR 135.4 million

BUCHAREST, Romania, Jun-2-2018 — /EPR Financial News/ — The Company would like to inform its shareholders that, as a result of the completion of the conditions to closing provided in the share-purchase agreement (“SPA”) signed on 21 July 2017 between DIGI Távközlési és Szolgáltató Kft.(“Digi HU”), as the purchaser, and Ilford Holding Kft. and InviTechnocom Kft. (former name Invitel Technocom Távközlési Kft.), acting as sellers (the “Sellers”), the acquisition by Digi HU of shares representing in total 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. (the “Target”) was finalized today, 30 May 2018.

The total consideration paid by Digi HU to the Sellers for the acquisition of shares in the Target was of approximately EUR 135.4 million.

The Company welcomes the addition to the Digi group of a key Hungarian telecommunications operator positioned as the second-largest incumbent fixed line telecommunications and broadband internet services provider in the residential and small business customers segment in Hungary. The Target offers an extensive portfolio of services to residential and small business customers, including a variety of multimedia and entertainment services such as interactive, digital and HD television, fast internet offerings and fixed telephony services across its regional networks.

This transaction will allow the Company’s group to consolidate its position on the Hungarian telecommunications market, and to expand its customer reach and experience, as well as to create better operational synergies.

SOURCE: EuropaWire