Hungary's Invitel plans roadshow for €125 million 6.5-year PIK floaters via Credit Suisse Thursday, Friday in London

By Paul A. Harris

St. Louis, Oct. 11 - Invitel Holdings NV will present its €125 million offering of 6.5-year floating-rate PIK notes to investors on Thursday and Friday in London, according to an informed source.

The Rule 144A and Regulation S deal via bookrunner Credit Suisse and co-manager BNP Paribas is expected to price early next week.

The notes will become callable after 18 months at par. Thereafter the call premiums increase to 102, 101 and back to par. The notes will also contain a 200 basis point step-up provision.

Proceeds will be used to sponsor a dividend payment.

Invitel is Hungary's second largest fixed-line telecom.

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