United Group Completes €1.7 Billion Refinancing

Paul, Weiss advised United Group, a leading telecommunications player in southeastern Europe that is majority-owned by BC Partners, in connection with the issuance of more than €1.4 billion of senior secured fixed and floating rate notes; €300 million of senior holdco pay-if-you-can PIK, or payment-in-kind, notes; and the upsize and maturity extension of United’s existing revolving credit facility. Proceeds from the offering were used to refinance the company’s existing senior secured and senior holdco debt.

The Paul, Weiss team was led by corporate partners Matthew Merkle, Deirdre Jones and Kanesh Balasubramaniam and counsel Nicolò Ascione, and included partner Brian Janson; and tax partners Timothy Lowe and Cian O’Connor and counsel Jamie Chambers, Samir Kurani and Patrick Karsnitz.