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BRIEF-Masmovil buys back convertible debt from FCC for 28.9 mln euros
February 8, 2017 / 11:35 AM / 8 months ago

BRIEF-Masmovil buys back convertible debt from FCC for 28.9 mln euros

Feb 8(Reuters) - Masmovil Ibercom SA:

* Said on Tuesday it has bought back convertible debt from FCC for 28.9 million euros ($30.8 million)

* Replaces convertible debt with senior debt of 24.3 million euros, reduces financial burden and cancels bank guarantee; sees a potential saving of up to 20 million euros in financial expenses

* Says operation also implies elimination of a 16.2 million euro earn-out, associated with the acquisition of Yoigo, and allows to avoid dilution of shareholder’s stakes in case of debt conversion

Source text: bit.ly/2ljLzdm

Further company coverage: ($1 = 0.9394 euros) (Gdynia Newsroom)

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