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Published on 4/13/2007 in the Prospect News Emerging Markets Daily.

Hungarian Telephone and Cable to issue €200 million of floaters

By Reshmi Basu

New York, April 13 - Hungarian Telephone and Cable Corp. said it will issue a €200 million offering of floating-rate notes, according to a press release issued by the firm.

Merrill Lynch, BNP Paribas and Calyon Securities will lead the deal, which Hungarian Telephone is bringing in connection with its acquisition of Hungarian competitor Invitel.

Hungarian Telephone is 62% owned by Danish telecommunications company TDC, with the remainder of the company's shares publicly traded on Nasdaq. Hungarian Telephone has headquarters in Budapest and Seattle.


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