Salt Mobile parent Matterhorn Telecom launches refinancing
On September 2, 2019, Matterhorn Telecom S.A., the parent company of Salt Mobile SA, announced the launch of a refinancing transaction raising up to EUR 1.4 billion under a new senior facilities agreement (providing for a new 7 year term loan Facility B of EUR 500 million and a new 5 year revolving facility of CHF 75 million) and the issuance of bonds in the amount of EUR 250 million (senior secured notes due 2024) and EUR 575 million (senior secured notes due 2026). The transaction closed on September 19, 2019.
Lenz & Staehelin advised Matterhorn Telecom and Salt on the Swiss aspects of this transaction. The team was led by partners Andreas Rötheli and David Ledermann, and included associates Clément Bouvier and Roman Graf (all Corporate and M&A). Milbank acted as international legal advisor to Matterhorn Telecom.