Melita’s €98 million refinancing consolidates company

Melita plc, the quad-play telecommunications company, has received €98.5 million in refinancing capital for existing bank debt against bonds that are redeemable in 2021.

Melita plc, Melita Mobile, and Melita Infrastructure Limited, were said to have entered into the bond issuance facilities agreement with an international lending consortium.

In accordance with the refinancing agreement, the Melita Group is in the process of streamlining its corporate structure.

The initial phase of the reorganisation process was effectively concluded on 25 July 2014, as a result of which Melita plc is now a wholly-owned subsidiary undertaking of the company.

In the second phase, Melita plc, Melita Mobile Limited and Melita Infrastructure Limited are in the process of merging, the result of which will be the consolidation of all of the operating companies of the Melita Group into Melita plc.

“Melita is pleased to announce that its refinancing process is coming to a conclusion. The process attracted a very high level of interest from leading international lenders. This is based on the recognition of Melita Group’s solid performance over the past few years, confidence in its strategy, and the ability to continue to grow in the future. We thank all those who participated in this highly competitive process,” Melita CEO Andrei Torriani, said.