/ world today news/ The main coordination board of the senior secured creditors of BTC and its parent company have agreed in principle on the conditions for the sale of BTC to two financial investors.
The transaction is subject to the relevant approvals from the investors, certain Group companies and the senior secured creditors. This is stated in a message to investors and the public on behalf of “Bulgarian Telecommunications Company” AD (BTK). A notification has been received from the Royal Bank of Scotland (RBS) – coordinator of the Main Coordinating Board of the Senior Secured Creditors of BTC and its parent company.
The senior secured creditors are currently in the process of approving an agreement on the main terms of the transaction between BTC, certain Group companies, the investors and the senior secured creditors. The sale and restructuring are planned to be carried out through a scheme of arrangement, which is expected to start later this month.
According to the restructuring terms proposed by the investors, the investors will provide 130 mln. euro to the senior secured creditors against a majority shareholding, with a minority share remaining for the senior secured creditors. The Group’s debt will be reduced to 588 million. euro. The offer to the investors includes opportunities for the senior secured lenders to sell their exposure to the investors during the closing of the transaction, the announcement further stated.
If all possible options are exercised, the senior secured creditors will have the opportunity to repay their participation in full for a total amount of 617 million. euro. The effective price per share of the acquisition will depend on the degree of exercise of the various options by the creditors and is expected to be between BGN 0.81 and BGN 1.92 per share. In the event that all preconditions for the implementation of the restructuring are met, the transaction is expected to be completed in September 2012.
At the moment, the majority owner of BTC is “NEF Telecom Bulgaria” OOD.
#BTC #owner #View #Info
**What measures should be in place to ensure transparency and accountability in the restructuring process, protecting the interests of both BTC employees and the Bulgarian public?**
## Restructuring BTC: A Conversation with Experts
**Welcome to World Today News’ exclusive interview on the proposed sale and restructuring of Bulgarian Telecommunications Company (BTC). Today, we are joined by two esteemed guests:**
* **[Guest 1 Name]**: [Guest 1 Expertise & Affiliation]
* **[Guest 2 Name]**: [Guest 2 Expertise & Affiliation]
**Introduction:**
As many know, BTC has been facing significant financial challenges in recent times. The recent announcement of a potential sale to two financial investors, coupled with a restructuring plan, has sparked a lot of discussion. Let’s delve into the details and explore the implications of this development.
**Section 1: The Sale and Restructuring:**
* **For our audience who might be unfamiliar with the specifics, can you provide a concise overview of the proposed sale and restructuring plan for BTC?**
* **What are the key drivers behind this decision? What factors led BTC and its creditor board to pursue this path?**
* **How does this restructuring plan impact BTC’s existing debt? What are the potential benefits and drawbacks for the company in the long term?**
**Section 2: Investor Perspective:**
* **[Guest 1]:** The proposed deal involves a significant financial injection by the investors. What motivated these investors to take on this challenge, and what opportunities do they see in BTC?
* **[Guest 2]:** What are the potential risks and challenges that these investors might face in restructuring and running BTC?
* **How might this change in ownership impact BTC’s employees, operations, and customer base?**
**Section 3: Impact on the Bulgarian Market:**
* **The telecommunications sector in Bulgaria is highly competitive. How might this restructuring of BTC affect the overall market landscape?**
* **Will this deal lead to consolidation within the industry, or could it potentially spark new competition?**
**[Guest 1]:** What are the broader economic implications of this deal for Bulgaria?
**Section 4: Future Outlook:**
* **Looking ahead, what are the key challenges and opportunities for BTC under its new ownership?**
* **What criteria should be used to evaluate the success of this restructuring plan in the next few years?**
**Closing Remarks:**
Thank you both for sharing your valuable insights on this complex and important issue. The restructuring of BTC is a significant development for the Bulgarian telecommunications sector and the nation’s economy. We will continue to follow this story closely and provide updates to our readers.
**(Note: This is just a framework. You can tailor the questions further based on the specific expertise and viewpoints of your chosen guests.)**
