Silknet launches USD 200M Eurobond to refinance secured Debt

23 April 2019

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Silknet, the Georgian telecommunications company, issued a USD 200m 11% five-year Eurobond on 26 March 2019 to refinance its secured bank debt, incurred by the group for its USD 151.7m acquisition of mobile operator, Geocell LLC. The acquisition took place in 2018 and means that Silknet is now the second-largest mobile operator in Georgia. The acquisition also enables Silknet to bundle its products and compete with its domestic rival Magticom in the coming years, as we discuss below.