Linklaters has advised Iliad on two bond issues of €600 million and €700 million respectively. The bonds have a maturity of 3 and 7 years and their respective coupon is 0.750% and 1.875% per year. They are listed on the Luxembourg Stock Exchange since 11 February 2021.
The net proceeds of the issue will be used by Iliad to refinance the acquisition of the Polish telecom operator Play.
This issue was highly successful, being largely oversubscribed. It is the largest bond issue carried out by an unrated issuer since Iliad’s previous double issue in April 2018 on which Iliad was also advised by Linklaters.
The Linklaters team advising Iliad included Véronique Delaittre, Partner, Clément Moine, Managing Associate, and Batoul Laanani, Associate.
Clifford Chance was the adviser of the bank syndicate.
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