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Sunrise prices IPO mid-range, raises CHF 1.36 bln
2015-02-06 08:44:00| Telecompaper Headlines
(Telecompaper) Swiss operator Sunrise has priced its initial public offering (IPO) and started listing on the SIX Swiss Exchange. Trading will begin following the IPO. The IPO is expected to close on 10 February. The company priced the offered shares at CHF 68 per share, in the middle of the indicated range of CHF 58-78. The total base offering consists of 20.0 million shares to be issued by Sunrise and 9.3 million existing shares offered by the selling shareholder. Sunrise and CVC have also granted a greenshoe of 4.1 million shares, to be offered by the selling shareholder. Following completion of the IPO, the number of offered Shares in the base offering will represent 65 percent of the issued share capital before the greenshoe and 75 percent after. Sunrise will use the expected proceeds of CHF1.36 billion, together with proceeds from other sources, to redeem in full the PIK Toggle notes and the 2012 notes and to pay back EUR 451 million of the senior notes and CHF 121 million of the CHF denominated 2010 Fixed Rate Senior Secured Notes on 13 February.
Verizon confirms wireline, tower sales for USD 15 bln
2015-02-06 08:37:00| Telecompaper Headlines
(Telecompaper) Verizon Communications has confirmed plans to sell part of its wireline assets to Frontier Communications for USD 10.54 billion. Frontier will acquire the local wireline operations serving customers in California, Florida and Texas for USD 9.9 billion in cash and USD 600 million in assumed debt. In addition, Verizon has agreed to lease the rights to over 11,300 of its wireless towers to American Tower Corporation, which will also purchase approximately 165 Verizon towers, for a total upfront payment of USD 5 billion. Part of the proceeds of the sales will be returned to shareholders in the form of a USD 5 billion accelerated share-repurchase programme.
BP reports quarterly loss of $4.4 bln amid oil price drop
2015-02-03 17:34:26| Energy - Topix.net
BP sounded a somber note on the oil industry Tuesday, saying producers may have to adjust to an extended period of lower prices, as the company reported a fourth-quarter loss of $4.4 billion and announced spending cuts. The London-based oil company followed Royal Dutch Shell and Chevron in curbing spending after the price of crude oil dropped about 50 percent last year.
Apple sells USD 6.5 bln in bonds, puts 2 bln in Mesa centre
2015-02-03 09:32:00| Telecompaper Headlines
(Telecompaper) Apple sold USD 6.5 billion in bonds on 2 February, including a round of 30-year debt that will pay 3.5 percent per year, the Wall Street Journal reported. In April 2013, Apple sold USD 17 billion in bonds, when a 30-year bond yielded about 3.9 percent. Apple's deal is the largest US high-grade corporate-bond sale so far this year, according to S&P Capital IQ LCD. Apple said in the prospectus that it will put proceeds towards general corporate purposes, including share buybacks. The company also announced its intention to invest USD 2 billion in the creation of a new data centre at a facility in Mesa, Arizona, the New York Times reported. The State of Arizona said Apple announced the plans after abandoning plans to produce sapphire materials. GT Advanced Technologies had been contracted to make sapphire screens for iPhones, among other things. After GTAT declared bankruptcy in October, Apple released it latest iPhones without sapphire. Apple said that the multibillion-dollar investment in the Arizona data centre was one of its most significant investments ever, creating 600 engineering and construction jobs. The centre will be partly used as a central command centre for monitoring Apple's other data centres around the world, the company said. The facility measures 1.3 million feet.
UPDATE 1-Egypt's Global Telecom to sell Djezzy majority stake for $2.6 bln
2015-02-01 16:50:33| Telecom - Topix.net
Egypt's Global Telecom will sell a 51 percent stake in Djezzy for $2.6 billion while keeping operational control of the Algerian mobile operator, Global said in a statement on Sunday. The sale to the Algerian National Investment Fund is the result of a deal reached last April between GTH's Russian parent firm Vimpelcom and Algeria to end a dispute over the country's moves to nationalise Djezzy.
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