>€ 500m of new 2031 unsecured notes to fund a tender on 2024/2025 notes - On Monday, opco Iliad SA issued € 500m of new 2031 unsecured notes at a yield of 5.375% (expected ratings: Ba2/BB, in line with existing unsecured notes issued by Iliad SA). Proceeds from the new issue will be used for general corporate purposes and, in whole and in part, to finance a tender on the 2024 notes at a price of 99% and 2025 notes at a price of 98.25% for a maximum total amount of €...
>€ 500m of new 2031 unsecured notes to fund a tender on 2024/2025 notes - On Monday, opco Iliad SA issued € 500m of new 2031 unsecured notes at a yield of 5.375% (expected ratings: Ba2/BB, in line with existing unsecured notes issued by Iliad SA). Proceeds from the new issue will be used for general corporate purposes and, in whole and in part, to finance a tender on the 2024 notes at a price of 99% and 2025 notes at a price of 98.25% for a maximum total amount of €...
[Press Release] iliad SA successfully completes a €500 million bond issue PRESS RELEASE Paris, April 22, 2024 iliad SA successfully completes a €500 million bond issuefinancial release Today, iliad SA successfully placed a €500 million bond issue. The bonds will mature in 7 years and pay interest at 5.375% per year. This transaction was announced for a maximum amount of €500 million and generated strong demand from investors (with close to €1.6 billion in demand), which allows the Group to benefit from attractive financial conditions in a context of volatile markets. S...
[Communiqué de presse] iliad SA émet avec succès un emprunt obligataire de 500 millions d’euros COMMUNIQUE DE PRESSE Paris, le 22 avril 2024 iliad SA émet avec succès un emprunt obligataire de 500 millions d’euros communication financière iliad SA a placé ce jour avec succès une émission obligataire de 500 millions d'euros. Cet emprunt présente une maturité à 7 ans et un coupon annuel de 5,375%. Cette transaction annoncée pour un montant maximum de 500 millions d’euros a rencontré une très forte demande des investisseurs (avec près de 1,6 milliard d’euro...
[Press Release] iliad SA launches a tender offer on its existing bonds maturing in October 2024 and April 2025 and intends to issue new Euro denominated senior unsecured bonds PRESS RELEASE Paris, April 22, 2024 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. iliad SA launches a tender offer on its existing bonds maturing in October 2024 and April 2025 and intends to issue new Euro denominated senior unsecured b...
[Communiqué de presse] iliad SA lance une offre de rachat sur ses obligations venant à échéance en octobre 2024 et en avril 2025 et prévoit d’émettre des obligations seniors non garanties libellées en euros COMMUNIQUE DE PRESSE Paris, le 22 avril 2024 NE PAS REMETTRE, PUBLIER OU DISTRIBUER, DIRECTEMENT OU INDIRECTEMENT, AUX ETATS UNIS D'AMERIQUE OU DANS TOUTE AUTRE JURIDICTION OÙ UNE DIFFUSION DU PRÉSENT COMMUNIQUÉ SERAIT ILLÉGALE. iliad SA lance une offre de rachat sur ses obligations venant à échéance en octobre 2024 et en avril 202...
Tele2 has reported a good set of Q1 numbers with EBITDAal +1.2% ahead of consensus expectations and at EFCF +24% ahead. Total end-user SR accelerated to +4.3% YoY (+3.4% in Q4), supported by the earlier phasing of price rises in Sweden this year. EBITDAaL growth (ex energy) slowed to +2.5% y/y (+4.0% in Q4), although this was better than had been messaged by the company in the pre results call, which probably explains the strong share price move today.
We do not view the Q1 report as a trigger event, as Tele2 has guided for flat EBITDA growth. We prefer Telia over Tele2 over the quarter. That said, we note Xavier Niel’s achievements in costs and cash flow at Millicom in a short time and believe investors could piggy-back on a strong industrial owner. We reiterate our BUY and have raised target price to SEK106 (100).
[Press Release] French version of the Universal Registration Document of iliad S.A. now available PRESS RELEASE Paris, April 10, 2024 French version of iliad S.A.’s Universal Registration Document now available Regulatory information The French version of iliad S.A.’s Universal Registration Document (the “Document d’Enregistrement Universel”) was filed with the Commission de Surveillance du Secteur Financier (“CSSF”) on April 10, 2024 in its capacity as the competent authority pursuant to Regulation (EU) 2017/1129, without prior approval in accordance with Article 9 of said Regul...
[Communiqué de presse] Mise à disposition du document d’enregistrement universel d’iliad S.A. COMMUNIQUE DE PRESSE Paris, le 10 avril 2024 Mise à disposition du document d’enregistrement universel d’iliad S.A. Information réglementée Le document d’enregistrement universel d’iliad S.A. a été déposé le 10 avril 2024 auprès de la Commission de Surveillance du Secteur Financier (« CSSF »), en sa qualité d’autorité compétente au titre du règlement (UE) 2017/1129, sans approbation préalable conformément à l’article 9 dudit règlement. Il intègre notamment : le rapport sur ...
[Press Release] A year of exceptional growth PRESS RELEASE Paris, March 14, 2024, 8:00 a.m. A year of exceptional growth Financial release The iliad Group’s financial results for 2023 clearly illustrate its European leadership, both in terms of revenue growth and net adds in the Mobile and Fixed markets. We saw virtuous growth in each of our three geographies, combining market share gains with increases in ARPU, while remaining true to our values of simplicity, transparency and fair pricing. Building on this momentum, for 2024 the Group is targeting €10 billion in revenues, and...
[Communiqué de presse] Une année de croissance exceptionnelle COMMUNIQUE DE PRESSE Paris, le 14 mars 2024 à 08h00 Une année de croissance exceptionnelle communication financière Les résultats 2023 viennent confirmer le leadership européen du Groupe iliad à la fois en termes de croissance du chiffre d’affaires et de recrutement de nouveaux abonnés Mobile et Fixe. Sur ses 3 géographies, le Groupe a connu une croissance vertueuse en alliant gains de part de marché et hausse du revenu par abonné tout en restant fidèle à ses valeurs de simplicité, de transpa...
[Communiqué de presse] Aude Durand est nommée Directrice Générale Déléguée du Groupe iliad COMMUNIQUE DE PRESSE Aude Durand est nommée Directrice Générale Déléguée du Groupe iliad gouvernance Paris, le 13 mars 2024 Le Conseil d’Administration du Groupe iliad, sur proposition de Thomas Reynaud son Directeur Général, a nommé ce jour Aude Durand en qualité de Directrice Générale Déléguée. Aude était depuis 2020 la Directrice Générale Adjointe d’iliad Holding et a piloté, à ce titre, plusieurs projets structurants du Groupe...
The European Telco landscape is dominated by three high profile billionaires. Patrick Drahi, John Malone, and Xavier Niel. They all have multiple debt silos, and large empires, but the bonds trade at very different spreads. In this note, we look at why that might be the case, and in particular, if the Niel businesses deserve to trade at tighter spreads. We think they do, which means that Xavier Niel should be able to continue to raise funds cheaply (albeit the Iliad spreads widened after the Tel...
A director at Tele2 AB sold 31,329,972 shares at 93.000SEK and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...
[Press Release] Investment in Tele2 PRESS RELEASE Paris, February 26, 2024, 7:45 a.m. Investment in Tele2 Financial release The iliad Group announces today that Freya Investissement, an investment vehicle jointly owned by iliad and NJJ Holding (“Freya”), has entered into a binding agreement with Kinnevik AB (publ)(“Kinnevik”) to acquire approximately 19.8% of the share capital comprising shares of both Class A and Class B in Tele2, one of the leaders in the Swedish and Baltics telecom markets, for a total...
[Communiqué de presse iliad] Investissement dans Tele2 COMMUNIQUE DE PRESSE Paris, le 26 février 2024 à 7h45 (heure de Paris) Investissement dans Tele2 communication financière Le Groupe iliad annonce ce jour que Freya Investissement, un véhicule d’investissement spécialisé détenu conjointement par iliad et NJJ Holding (“Freya”), a conclu un accord avec Kinnevik AB (publ)(“Kinnevik”) portant sur l’acquisition en numéraire, d’environ 19,8% du capital (actions A et B) du groupe Tele2, un des opérateurs leaders des marchés suédois et des pays baltes, pour un...
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