Hungary's Invitel to start roadshow Monday for €140 million eight-year notes

By Paul A. Harris

St. Louis, July 23 - Matel BV, a holding company for Invitel, Hungary's second-largest fixed-line telephone company, will begin a roadshow Monday for a €140 million offering of eight-year notes, according to an informed source.

Pricing is expected to take place Friday.

Credit Suisse First Boston and BNP Paribas will run the books for the Rule 144A/Regulation S offering.

The notes will come with four years of call protection.

The company will also obtain a €165 million seven-year term loan, with BNP Paribas acting as sole lead arranger.

Proceeds will be used to repay bank debt, to fund repayment of a shareholder loan and to repay a vendor loan from Vivendi Universal.

Formerly owned by Vivendi Universal, Invitel is now owned by GMT Communications Partners Ltd. and AIG Emerging Europe Infrastructure.

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