November 2011: ONI, a leading Portuguese telecommunications services provider, controlled by US private equity firm Riverside, completes a wide ranging refinancing with the assistance of the firm and the participation of ING (Coordinator Bank y MLA), Barclays (MLA), BNP Paribas, BPN y Efisa (Facility and Security Agent).
The project is completed successfully in spite of the attendant economic difficulties including the Portuguese sovereign debt crisis, the EEC Bailout which took place in April this year and the virtual closure of the Portuguese interbank market during this period.
The transaction assures the financial stability of ONI for the long term and allows Riverside to focus its efforts on the creation of valor for its investee company which will include the possible acquisition of other telecom services providers located in the Iberian Peninsula.
The transaction is the third debt advisory transaction to be completed by the firm recently for leading private equity firms (GMT/Redext) and Corpfin/Restauravia).
