GTS completes financing to accelerate growth
GTS Central Europe (GTS), a leading infrastructure-based provider of telecommunications services in Central and Eastern Europe, today announced the completion of major financing agreement. The new senior debt facility provides the company with significant liquidity to fund new both acquisitions and network investment.
A consortium of leading banks from throughout Europe participated in the €330 million facility. The proceeds will be used to refinance existing bank indebtedness, and more than 50 percent may be flexibly used for acquisitions, capital expenditures or repayment of shareholder loans. For its 20 years of operating history, GTS has grown organically and through the acquisition of companies and assets in the CEE region. The company will build upon its past and use the liquidity to accelerate growth and enhance its regional fiber and data center network.
‘The fact that we combined current lenders with new banks in this facility demonstrates the strength of our business in the eyes of many. Since our last debt financing in 2008, GTS has grown in profitability and free cash flow every year through discipline and focus. In these uncertain times, we see opportunity and are privileged to have a great team of banks and shareholders from across Europe and the U.S.A supporting the company’, said Gerald Grace, CFO, GTS.