Harrisons, Maric & Co, Lambadarios, and Wolf Theiss, working with Linklaters, have advised a banking consortium led by UniCredit Bank London on the United Group's EUR 1.7 billion issuance of four tranches of senior secured and PIK notes as well as on the increase and extension of its EUR 410 million revolving credit facility. Selih & Partnerji, working with Paul Weiss, advised the United Group. Schoenherr, Koutalidis, De Brauw Blackstone Westbroek, and Elvinger Hoss Prussen reportedly advised the United Group as well.
The consortium of initial purchasers and lenders also included JP Morgan SE, among others.
According to Linklaters, "as part of the bond offerings, the company successfully tapped multiple sources of liquidity to mirror the diversity of its existing capital structure: tightening pricing from the original IPTs, the company initially issued EUR 300 million 7NC3 notes priced at 6.75%; EUR 650 million 7NC1 notes priced at E+425bps/Par; and EUR 300 million 5NC1 PIK notes priced at 10.75%. Using the momentum of the significantly oversubscribed offering, the company subsequently launched a rare, for the high yield market, 'loan-style' repricing of its EUR 480 million notes due 2029 and issued the same amount and maturity at E+425bps/Par."
The United Group is a telecommunications player in Southeastern Europe and is majority-owned by BC Partners, an alternative investment manager. United is active across Serbia, Bosnia and Herzegovina, Montenegro, Slovenia, North Macedonia, Croatia, Bulgaria, and Greece.
The Harrisons team was led by Consultant Ines Matijevic-Papulin and included Associate Aleksandar Jovicevic.
The Maric & Co team was led by Attorney at Law Slaven Dizdar and included Associates Igor Petkovic and Adin Provalic.
The Lambadarios team was led by Partner Prokopis Dimitriadis and included Senior Associate Katerina Gini and Associate Christina Kyrgialani.
The Wolf Theiss team included Slovenia-based Partner Klemen Radosavljevic, Counsel Tjasa Lahovnik, and Senior Associate Neja Nastran; and Bulgaria-based Partner Katerina Kraeva, Counsel Oleg Temnikov, and Associate Ivan Ivanov.
The Selih & Partnerji team was led by Partner Mia Kalas and included Partner Spela Arsova and Senior Associates Lidija Zupancic and Marusa Polak.
