Netia arranges new financing for potential acquisitions

Polish operator Netia signed a mandate letter with Rabobank Polska, Raiffeisen Bank Polska and BRE Bank regarding new financing for potential acquisitions and terminated the existing credit facility with Rabobank Polska, the lead arranger of the loan. Netia signed a mandate letter with Rabobank Polska, Raiffeisen Bank Polska and BRE Bank for arrangement of new financing for a potential market-consolidating acquisition within the telecommunications sector in Poland. In consequence of the above notice, Netia terminated its existing loan facilities totalling PLN 295 million, provided by Rabobank Polska, Raiffeisen Bank, Bank Millennium, Bank Gospodarki Zywnosciowej since 2007, effective from 5 August. Cancellation of the loan will have no adverse financial consequences for the companies in the Netia group as the company has sufficient cash on hand to fund its current organic growth strategy, including the programme of Ethernet acquisitions, and has taken steps to arrange new financing to pursue potential consolidation opportunities.