Project description
and objectives:
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The EBRD proposes to participate in a medium-term senior syndicated loan of €100 million to Vivendi Telecom Hungary, the second-largest provider of fixed line telecommunications services in Hungary.
Project objectives: The transaction will assist VTH with consolidating its regional operations into a single nationwide structure, which necessitates refinancing existing loan facilities to regional subsidiaries. The transaction will also provide additional funds to VTH for the completion of its fixed line network in Hungary.
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Transition impact:
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The transition impact of the project will derive from the improvement in the operations of VTH after consolidation and the increase in competition in the telecommunications sector.
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The client:
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Vivendi Telecom Hungary BV (VTH) is a holding company to be established in the Netherlands, which will own Hungarian telecommunications operations of Vivendi Universal (VU), a multinational infrastructure, communication and media group with core interests in Europe and the United States. VTH provides fixed voice and fixed data telecommunications services in Hungary and is the second-largest operator after the incumbent Matáv.
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EBRD finance:
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The EBRD is proposing to underwrite up to €100 million of a €350 million syndicated medium term loan. The facility will be co-arranged with BNP-Paribas, CIBC World Markets, and Dexia Credit Local.
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Total project cost:
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€350 million
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Environmental impact:
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The main environmental emphasis of the project would be to ensure that VTH continues to comply with all applicable environmental, health and safety laws in Hungary.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Sibylle Grasset, Operation Leader: grassets@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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