Masmovil’s Acquisition Financing of Euskaltel

Simpson Thacher advised Masmovil Ibercom on the deal.

Masmovil Ibercom, S.A.U. (“Masmovil”), a telecommunications operator owned by a consortium of Cinven, KKR and Providence, announced its acquisition financing for the acquisition of Euskaltel, S.A.

The acquisition financing included an €800 million term loan facility (increased by €200 million), €2.1936 billion bridge facilities and a €500 million asset bridge facility, as well as 144A and Regulation S offerings of €1.55 billion in aggregate principal amount of 4% Senior Secured Notes due 2027 and €500 million in aggregate principal amount of 5.125% Senior Notes due 2029 to refinancing the bridge facilities. 

Masmovil Ibercom SA provides telecommunications services. The Company offers fixed line, mobile, and Internet services. Masmovil Ibercom serves customers in Spain. 

Euskaltel S.A. operates as a global telecommunication company. The Company offers wireless telephone, internet, television access, and other services. Euskal serves its customers throughout Spain. 

The Simpson Thacher team included Shahpur K. Kabraji (Picture), Jia Meng and Kristin Hoo (Credit); Gil Strauss, Surya Bala, William G. Taylor, Melchor Alvarez de Mon and Charles English (Capital Markets); Meredith B. Jones, Sarah Lane, Gal Shemer and Ellie Verran (Tax); and Jeanne M. Annarumma (ERISA).

Involved fees earner: Melchor Alvarez de Mon – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Surya Bala – Simpson Thacher & Bartlett; Charles English – Simpson Thacher & Bartlett; Kristin Hoo – Simpson Thacher & Bartlett; Meredith Jones – Simpson Thacher & Bartlett; Shahpur Kabraji – Simpson Thacher & Bartlett; Sarah Lane – Simpson Thacher & Bartlett; Jia Meng – Simpson Thacher & Bartlett; Gal Shemer – Simpson Thacher & Bartlett; Gil Strauss – Simpson Thacher & Bartlett; William Taylor – Simpson Thacher & Bartlett; Ellie Verran – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Masmovil Ibercom, S.A.;

Author: Alejandro Girola