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Five things to watch April 3: Orange issues bonds for €1.5bn, Millicom repurchases over 10,000 shares, and Veon reports strong financial performance

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Capacity shares 5 key finance stories from around the world making headlines today!

Orange issues bonds for €1.5bn

Orange has issued new bonds for a total notional of 1.5 billion.

The bonds will be issued in two batches, one 7-year 1.250% EUR 750 million bond and a 12-year 1.625% EUR 750 million bond.

For the issuance of these bonds, Bank of America Securities, BNP Paribas, JP Morgan, Morgan Stanley, MUFG and Santander are acting as Bookrunners.

While Bank of America Securities and BNP Paribas are acting as Global Coordinators.

Millicom repurchases over 10,000 shares

Millicom has repurchased a total of 10,358 of its Swedish Depository Receipts (SDRs) or shares, as part of its repurchase program announced in February.

All repurchases were carried out on Nasdaq Stockholm by Goldman Sachs International. Now completed, Millicom holds 659,133 treasury shares with 101,739,217shares outstanding in Millicom.

Specifically, the details of the repurchase program are included in the table below:

Date

Number of shares repurchased

Weighted average repurchase price (SEK) excluding commissions

Total daily transaction value (SEK), excluding commissions

3/23/2020

  4,375

  251.7819

1,101,545.81

3/24/2020

  1,483

  261.4742

387,766.24

3/25/2020

  1,500

  272.3089

408,463.35

3/26/2020

  1,500

  278.7881

418,182.15

3/27/2020

  1,500

  284.8575

427,286.25

Veon reports strong financial performance

Veon Group reported a strong financial performance by year-end FY19 and Q120.

At the end of 2019, the company reported Net debt/EBITDA ratio was 2.0x, on gross debt of approximately $7.5 billion. In addition, it had access to $3.2 billion in either cash or undrawn credit facilities.

At the end of the period Group debt denominated in US Dollar was 46%, with ruble denominated debt at 47%.

In 1Q20 the company tapped into its 2025 bond with a further $300 million at an effective yield of 3.2%. It also increased the size of a ruble denominated loan with Alfa Bank from RUB 17.5 billion to RUB 30.0 billion and extended the maturity to 2025.

Strategic Wireless acquires Oregon Cell Tower

Strategic Wireless Infrastructure Funds Management (Strategic Wireless) has completed the acquisition of a cell tower located in La Grande, Oregon.

Built in 2012, the Snake River Tower has an existing anchor tenant of a top-tier wireless carrier and there is capacity for two additional broadband tenants.

“Despite the slowdown in the overall US economy, cell towers remain critical in supporting the connectivity consumers demand on a daily basis and we continue to be active in the space,” said Jerry Sullivan, CEO of Strategic Wireless.

“We believe this tower, the existing high-quality tenant and the opportunity to lease additional space make it an attractive addition to our overall portfolio.”

Bluebird Network completes the purchase of INA

Bluebird Network has completed the acquisition of the Illinois Network Alliance (INA).

This deal enables Blubird to expand its network footprint in Illinois and strengthen its fiber services and high-bandwidth network solutions.

“Bluebird is eager to grow the INA’s state-of-the-art fibre optic network, delivering high-bandwidth, carrier-class internet and data centre services across the Midwest,” states Michael Morey, President and CEO of Bluebird Network.

“Underscoring our place as a leading fibre provider in the Midwest, we look forward to expanding our customer offerings and supporting them with our personalized level of service. The Bluebird Network — including the INA network — and the Bluebird Underground Data Center remain in service to actively support the needs of our customers during this time of international crisis.“

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