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DEUTSCHE Morgan Grenfell and Bank Handlowy have launched general syndication of the nonrecourse debt that will finance the build out of Polkomtel's GSM licence.
The facility consists of a DM660m tranche priced at 127.Sbp over Libor arranged by Deutsche and a Z300m term loan priced at 130bp arranged by Bank Handlowy. The Deutschmark loan comprises a DM585m amortising term loan and a DM75m revolver. Both the zloty loan and the Deutschmark term loan amortise to the end of 2005.
Banque Paribas has already joined the Deutschmark portion as a co-arranger and the Nordic Investment Bank is due to...