GTS completes financing to accelerate growth
Prague, Czech Republic, May 30, 2012 – GTS Central Europe (GTS), a leading infrastructure-based provider of telecommunications services in Central and Eastern Europe, today announced the completion of major financing agreement. The new senior debt facility provides the company with significant liquidity to fund new both acquisitions and network investment.
A consortium of leading banks from throughout Europe participated in the €330 million facility. The proceeds will be used to refinance existing bank indebtedness, and more than 50 percent may be flexibly used for acquisitions, capital expenditures or repayment of shareholder loans. For its 20 years of operating history, GTS has grown organically and through the acquisition of companies and assets in the CEE region. The company will build upon its past and use the liquidity to accelerate growth and enhance its regional fiber and data center network.
“The fact that we combined current lenders with new banks in this facility demonstrates the strength of our business in the eyes of many. Since our last debt financing in 2008, GTS has grown in profitability and free cash flow every year through discipline and focus. In these uncertain times, we see opportunity and are privileged to have a great team of banks and shareholders from across Europe and the U.S.A supporting the company.” said Gerald Grace, CFO, GTS.
GTS Central Europe is a leading infrastructure-based provider of telecommunications services in Central and Eastern Europe. GTS owns and operates an extensive fiber optic and data center network throughout the region. In the Czech Republic, Hungary, Poland, Romania and Slovakia, the company combines its regional footprint with deep local networks to deliver a broad range of services. From basic voice and data to complex virtual private networks and managed data center services, GTS assembles the latest technology with its unique network to provide industry-leading customer solutions. With a rich operating history of nearly 20 years in CEE, the company is committed to providing service excellence and value to its nearly 40,000 business, carrier and government customers. For more information, please visit us at www.gtsce.com.