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Zegona is setting up a long-term financing plan with investments from Spanish and international investors after buying Vodafone Spain for £4.26 billion in May.
The refinancing will be used to pay off the initial loans taken to buy Vodafone Spain. This refinancing is expected to be completed by July 17, 2024.
The new financing includes: €1,300 million in Senior Secured Notes with a 6.750% interest rate, due in 2029, $900 million in Senior Secured Notes with an 8.625% interest rate, also due in 2029 . €920 million in a 5-year term loan, $400 million in a 5-year term loan
Eamonn O’Hare (main pic), CEO of Zegona, said: “With our long-term financing secured, we have a solid financial foundation and can focus on improving Vodafone Spain, driving growth, and creating value for everyone involved.”
Zegona was the company set up in 2015 by former Virgin Media executives Eamonn O’Hare(main pic) and Robert Samuelson, with the objective of investing in businesses in the European Telecommunications, Media, and Technology sector.