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Shearman & Sterling Advises Salt on €400 Million High Yield Bond Offering

5 Dec 2017

Shearman & Sterling advised Salt, a subsidiary of Matterhorn Telecom, on Matterhorn Telecom’s offering of €400 million 4.00% senior secured notes due 2027. The offering closed on November 27, 2017.

The notes are guaranteed on a senior secured basis by Matterhorn Telecom Holding, Salt Mobile and Salt Network. The proceeds from the offering, together with cash on balance sheet, were used to redeem €400 million of Matterhorn Telecom S.A.’s floating rate senior secured notes due 2023, and to pay certain fees and expenses relating to the offering.

Salt is one of the leading mobile network operators in Switzerland focused primarily on offering mobile voice, SMS and data and customer care products and services to postpaid residential customers, small and medium-sized enterprises and small office/home office business customers.

The Shearman & Sterling team included partners Apostolos Gkoutzinis (London-Capital Markets), Peter Hayes (London-Finance) and Kristen Garry (Washington, DC-Tax); counsel Rebecca Marques (London-Capital Markets) and Jackson Lam (London-Finance); and associates Arthur Ravignon, Saif Alaqili (both London-Capital Markets), Camilla Hunter, Charlie Marmion (both London –Finance) and Devon Yamauchi (Washington, DC-Tax).


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