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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  MásMóvil Ibercom, S.A.    MAS   ES0184696104

MÁSMÓVIL IBERCOM, S.A.

(MAS)
  Report
Delayed Quote. Delayed Bolsas y Mercados Espanoles - 11/03 11:38:00 am
22.5 EUR   --.--%
11/23MÁSMÓVIL IBERCOM S A : Actualización 3Q20
PU
11/02MÁSMÓVIL IBERCOM S A : Precio de la ampliación del bono de Lorca
PU
10/27MÁSMÓVIL IBERCOM S A : Delisting of the Company's shares
PU
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Masmovil buyers secure first leveraged loan since COVID-19 crisis

07/03/2020 | 01:13pm EST

By Abhinav Ramnarayan and Isla Binnie

The private equity consortium behind the mooted acquisition of Spanish telecoms firm Masmovil has secured a 2 billion euro (1.80 billion pounds) loan towards that deal, helping revive a leveraged loan market that has taken a beating this year.

The seven-year loan, which will be issued by Masmovil but go towards financing a bridge loan taken to fund its buyout by Cinven, KKR and Providence, priced late on Thursday, according to a document seen by Reuters.

It is the first such deal to be completed after the COVID-19 crisis wrought havoc on the market in March and pushed the U.S. leveraged loan default rate to a six-year high.

The final amount is 500 million euros more than originally targeted.

"If we had done this deal in February, perhaps we would have got 2.5 or 3 billion (euros); but still it was the first deal underwritten after the virus and it shows that the market is open," a person familiar with the transaction said.

He and another person familiar with the matter said the buyers were mostly institutional loan investors and some in the collateralised loan obligations market, and that the deal was oversubscribed.

Other previously-agreed acquisitions such as the private equity buyout of ThyssenKrupp's elevators unit and AMS's purchase of Osram have found financing in recent weeks, but this leveraged loan is the first agreed after the crisis broke out.

Central bank stimulus has helped revive appetite for low-rated debt and give investors' confidence in such deals again, bankers said.

Masmovil has grown through acquisitions against fierce competition from Telefonica, Vodafone and Orange and owns low-cost brands Pepephone and Yoigo.

Sources familiar with the matter have said its prospective buyers aim to complete the deal in the last three months of this year. Providence already holds 9% of the company, whose board has backed the bid.

(Reporting by Abhinav Ramnarayan; Editing by Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
KKR & CO. INC. -0.41% 38.71 Delayed Quote.33.25%
MÁSMÓVIL IBERCOM, S.A. 0.00% 22.5 Delayed Quote.10.62%
ORANGE 1.47% 10.69 Real-time Quote.-19.70%
TELEFONICA S.A. 1.11% 3.736 Delayed Quote.-40.66%
VODAFONE GROUP PLC -0.62% 124.9 Delayed Quote.-14.36%
All news about MÁSMÓVIL IBERCOM, S.A.
11/23MÁSMÓVIL IBERCOM S A : Actualización 3Q20
PU
11/02MÁSMÓVIL IBERCOM S A : Precio de la ampliación del bono de Lorca
PU
10/27MÁSMÓVIL IBERCOM S A : Delisting of the Company's shares
PU
10/16Europe telecoms lobby group 'denounces' bans on Chinese vendors
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09/25MasMovil says has not been in talks with Vodafone
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09/25MasMovil says had no contacts with Vodafone over potential takeover
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09/24MÁSMÓVIL IBERCOM S A : Call of EGM
PU
09/10Sufficient MasMovil shareholders support take-private deal
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More news
Financials
Sales 2020 1 864 M - -
Net income 2020 126 M - -
Net Debt 2020 1 922 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 2 956 M 3 505 M -
EV / Sales 2020 2,62x
EV / Sales 2021 2,22x
Nbr of Employees 964
Free-Float 6,54%
Chart MÁSMÓVIL IBERCOM, S.A.
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MásMóvil Ibercom, S.A. Technical Analysis Chart | MAS | ES0184696104 | MarketScreener
Income Statement Evolution
Managers
NameTitle
Meinrad Spenger Chief Executive Officer & Director
Eduardo Díez-Hochleitner Rodríguez Chairman
José María del Corro Chief Financial Officer
Santos Fernandez Miguel Chief Technology Officer
José Eulalio Poza Sanz Vice Chairman
Sector and Competitors