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MagtiCom Wants to Attract 100 mln USD from EBRD

MagtiCom Wants to Attract 100 mln USD from EBRD

MagtiCom wants to attract up to US$ 100 million senior A/B Loan from EBRD. The use of proceeds is to finance acquisition of retail assets of Caucasus Online (“CO”).

European Bank for Reconstruction and development (EBRD) has already started considering of senior A/B Loan.

Up to US$ 100 million senior EBRD A/B Loan to MagtiCom consisting of an A loan of up to US$ 75 million for EBRD’s own account and a B loan of up to US$50 million to be syndicated to international lenders.

To remind, The process of handing over the corporate and retail service assets to MagtiCom shall tentatively commence on August 1, 2016 and proceed for several months, drawing to a close by the end of this year.

MagtiCom is the first and the only operator in Georgia offering a full quad play service: 1. Mobile telephony 2.Fixed-line telephony (wireless and cable) 3. Internet (mobile and cable) 4. Television (satellite and IPTV)

Source: GBC