Milbank Advises Matterhorn Telecom in Connection with Its Financing for the Acquisition of Monaco Telecom

Milbank LLP advised Matterhorn Telecom S.A. (the “Company”), the parent company of Salt Mobile SA (“Salt”), on an offering of €550 million aggregate principal amount of senior secured notes due 2030 and a new €130 million 7-year term loan Facility B3, established as an additional facility pursuant to the Company’s existing senior facilities agreement.

The proceeds from the financing, together with additional proceeds of certain intercompany loans, will be used to pay the purchase price for the acquisition of a controlling interest in Monaco Telecom S.A.M. (“Monaco Telecom”), fully redeem the Company’s existing Euro-denominated 3.125% senior secured notes due 2026 and pay certain fees and expenses in connection with the transactions.

Salt is a leading Swiss telecommunications provider. Monaco Telecom is the primary telecommunications provider in the Principality of Monaco and a leading telecommunications provider in Malta and Cyprus through Epic.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Rebecca Marques and Sarbajeet Nag, special counsel Melanie Probst, associates Manel Mostefaoui, Kui To Joshua Mo and Luca Mirabile and trainee solicitor Michael Brown. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Seth Moreida.