Telekom Srbija A.D. Beograd ("Telekom Srbija") (SBRIJA) exp NR/BB-/B+ (-/s/p) US$900m 144A/Reg S 5nc2 (50%, 25%, par) sr notes due 10/28/29. BNP/BofA (B&D)/DB/Erste/MUFG/RBI/UniCredit. MWC T+50bp. NC2 then at 103.500, 101.750, 100. Equity claw: 2y 35%. 101 CoC. List GEM Dublin. English law. Semi pay. UOP: along with a EUR383.1m term loan, to refinance certain existing indebtedness (foreign and domestic term loans and revolvers). DealRoadshow Presentation (Voiceover) - Access Details: URL: https://dealroadshow.com; Entry Code: TELSERB; Direct Link: https://dealroadshow.com/e/TELSERB. Pricing 10/21. Settle 10/28 (T+5).
IPTs: 7.5% area.
GUIDANCE: 7.125% area. Size up to $900m. Orderbooks over $4.3bn (excluding JLMs).
LAUNCHED: $900m 5nc2 at 7%. Orderbooks over US$ 5.5bn (pre rec, at guidance).
PRICED: $900m 7.00% 10/28/29 100.00 7.00%. T+302.5. MW+50.
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Telekom Srbija A.D. Beograd ("Telekom Srbija") (SBRIJA), one of the largest integrated telecommunication services provider in Southeast Europe and the largest operator in Serbia by subscribers in fixed telephony, mobile telephony, internet and multimedia services, 58.1% owned by the Republic of Serbia (rated BBB- stable by S&P, Ba2 positive by Moody’s, BB+ positive by Fitch) acting as a strategic and long-term majority shareholder, has mandated BNP Paribas, BofA Securities, Deutsche Bank, Erste Group, MUFG, Raiffeisen Bank International and UniCredit as Joint Lead Managers to arrange a series of physical and virtual fixed-income investor meetings commencing today, October 16.
An inaugural USD750m Reg S / Rule 144A Senior Unsecured 5NC2 notes offering, will follow subject to market conditions. MWC T+50bp. Equity claw: 2y 35%. List Dublin. English law. Semi pay. CoC at 101. Rated NR/BB-/B+ (stable/positive).
The proceeds of the Notes, along with a EUR383.1m term loan, will be used by Telekom Srbija to refinance certain existing indebtedness (foreign and domestic term loans and revolvers).
BNP Paribas is coordinating roadshow logistics.
Roadshow Schedule Summary:
Wed 16 October – Virtual Calls (afternoon only)
Thu 17 October – London Physical & Virtual Meetings (Rosewood Hotel)
Friday 18 October – London Physical & Virtual Meetings (Corinthia Hotel)
DealRoadshow Presentation (Voiceover) - Access Details: URL: https://dealroadshow.com; Entry Code: TELSERB; Direct Link: https://dealroadshow.com/e/TELSERB
The company will be represented by:
Mr Vladimir Lucic - Chief Executive Officer
Ms Marija Spasic - Chief Financial Officer
Ms Olivera Papic - Head of Treasury Department
Ms Dragana Drakulic - Head of Accounting