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10/07/2011 / POLAND / GLOBAL LOAN SYNDICATION - GLOBAL SECTOR GROUPS - MERGERS AND ACQUISITIONS
Crédit Agricole CIB alongside Zygmunt Solorz-Zak Group in Polkomtel acquisition
On June 30th, 2011, Crédit Agricole CIB arranged, as global coordinator, bookrunner and mandated lead arranger, a EUR 3.6 billion debt package to support Zygmunt Solorz-Zak’s acquisition of Polkomtel, a leading mobile telecommunications operator in Poland.
The overall debt package of PLN 14.3 billion (circa EUR 3.6 billion) is comprised of a mix of senior credit facilities and bridges to high yield bonds of different ranking (Senior Secured Notes, Unsecured Notes and deeply subordinated PIK Notes).
Crédit Agricole CIB also acted as Mergers & Acquisitions (M&A) advisor to Spartan Capital Holdings ("Spartan"), the SPV bidding vehicle of Zygmunt Solorz-Zak. The transaction which values Polkomtel over PLN 18 billion (circa EUR 4.5 billion), is the largest LBOA leveraged buy-out is the acquisition of all a company's shares financed largely by the borrowed funds. in Europe since 2008. The successful signing concluded a 6 month long official auction process, in which Spartan beat competition from strategic buyers and some of the largest Private Equity funds active in the sector to acquire 100% of shares of Polkomtel SA.
This new achievement strengthens already positive working relationship with Zygmunt Solorz-Zak group. The Bank already acted as:
Zygmunt Solorz-Zak group is led by the Polish entrepreneurs of the same name. The company has been growing successfully for 20 years in the media/telecom sector.
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The overall debt package of PLN 14.3 billion (circa EUR 3.6 billion) is comprised of a mix of senior credit facilities and bridges to high yield bonds of different ranking (Senior Secured Notes, Unsecured Notes and deeply subordinated PIK Notes).
Crédit Agricole CIB also acted as Mergers & Acquisitions (M&A) advisor to Spartan Capital Holdings ("Spartan"), the SPV bidding vehicle of Zygmunt Solorz-Zak. The transaction which values Polkomtel over PLN 18 billion (circa EUR 4.5 billion), is the largest LBOA leveraged buy-out is the acquisition of all a company's shares financed largely by the borrowed funds. in Europe since 2008. The successful signing concluded a 6 month long official auction process, in which Spartan beat competition from strategic buyers and some of the largest Private Equity funds active in the sector to acquire 100% of shares of Polkomtel SA.
This new achievement strengthens already positive working relationship with Zygmunt Solorz-Zak group. The Bank already acted as:
- bookrunner on acquisition financing and high yield bond for Cyfrowy Polsat,
- hedging bank for Cyfrowy Polsat and Spartan/Polkomtel in relation to interest rate and currency risks,
- joint bookrunner on an Equity Capital Markets transaction for Cyfrowy Polsat.
Zygmunt Solorz-Zak group is led by the Polish entrepreneurs of the same name. The company has been growing successfully for 20 years in the media/telecom sector.
Deal of the Year - IFR Awards 2011