Hungarian Telephone and Cable Corp. Announces EUR 200 Million Floating Rate Senior Notes Offering Through Its Wholly Owned Subsi
April 13 2007 - 9:51AM
Business Wire
Hungarian Telephone and Cable Corp. (AMEX:HTC) today announced an
offering (the �Offering�) through its wholly owned subsidiary, HTCC
Holdco II B.V. (the �Issuer�), of Floating Rate Senior Notes (�the
Notes�) for approximately EUR 200 million. Upon consummation of the
acquisition of Invitel ZRt. (�Invitel�) by Hungarian Telephone and
Cable Corp., Magyar Telecom B.V. (�Matel�), the current parent
company of Invitel ZRt. (�Invitel�), will assume the obligations
under the Notes and also become the parent company of Hungarotel
ZRt. (�Hungarotel�), PanTel ZRt. (�PanTel�) and PanTel Technocom
Kft. The proceeds from the Offering will be used to partly finance
the acquisition of Invitel by Hungarian Telephone and Cable Corp.
and refinance the indebtedness of Hungarotel and PanTel. ABOUT
HUNGARIAN TELEPHONE AND CABLE CORP. Hungarian Telephone and Cable
Corp. is the leading alternative telecommunications service
provider in the Republic of Hungary with a presence in other
countries in Central and Eastern Europe. This press release
contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These and all
forward-looking statements are only predictions of current plans
that are constantly under review by the Company. Such statements
are qualified by important factors that may cause actual results to
differ from those contemplated, including as a result of those
factors detailed from time to time in the Company�s Securities and
Exchange Commission filings. The information included in this press
release should be read in conjunction with the Company�s filings
with the U.S. Securities and Exchange Commission including, but not
limited to, reports on Forms 10-K and 10-Q. The Company has no
obligation to update or revise these forward-looking statements to
reflect the occurrence of future events or circumstances. This
press release is not an offer to sell or a solicitation of any
offer to buy the securities in the United States; the securities
have not been, and will not be, registered under the U.S.
Securities Act of 1933 and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons (as
such term is defined in Regulation S under the U.S. Securities Act
of 1933) absent registration or an exemption from registration.
There will be no public offer of securities in the United States.
Any offering of securities will be made only by means of an
offering circular, which contains detailed information about
Invitel, HTCC and their respective management and financial
statements.
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