Trilogy’s NuevaTel launches up to $24.2 million equivalent of bonds

By Sarah Lizee

Olympia, Wash., Aug. 28 – Trilogy International Partners Inc.’s Bolivia subsidiary Empresa de Telecomunicaciones Nuevatel (PCS de Bolivia) SA (NuevaTel) launched an offering of up to $24.2 million equivalent of Bolivianos-denominated bonds in two parts, according to a press release.

NuevaTel will issue $9.7 million equivalent of 5.8% five-year series A bonds and $14.5 million equivalent of 6˝% eight-year series B bonds.

Proceeds will be used to repay existing debt of about $11.8 million maturing within the next year, as well as for capital expenditures.

The bonds will be secured with certain sources of NuevaTel cash flows and will be tradeable on the Bolivian Stock Exchange.

There are some financial covenants, including a debt service ratio, applicable starting with the first quarter of 2022.

NuevaTel has received commitments for about $19.5 million of the bond offering, including all of series A.

The bond offering will be open through Oct. 31.

Trilogy is a Bellevue, Wash.-based wireless telecommunications company that operates in Latin America, the Caribbean and New Zealand.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.