Zegona Communications (ZEG)

Sector:

Telecom Operators

225.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 246.00
  • 52 Week Low: 31.20
  • Currency: UK Pounds
  • Shares Issued: 704.15m
  • Volume: 12,253
  • Market Cap: £1,584.34m
  • RiskGrade: 74

Zegona investment Euskaltel shores up debt with new term loan

By Josh White

Date: Friday 10 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Telecommunications investor Zegona announced on Friday that its investment Euskaltel has replaced its €215m (£192.63m) amortising debt with a new €215m term loan, with no amortisation before December 2023.
The AIM-traded firm said that with the change, Euskaltel had eliminated all term loan repayments until December 2023, and increased the average maturity of its corporate debt to over four years.

It said the refinancing provides financial flexibility to increase investments in plans to expand the Virgin telecommunications brand nationally in Spain, and accelerate its move towards profitable growth.

"Earlier this year, Euskaltel announced its 2020-2025 business plan," the Zegona board explained, saying it was expanding nationally using the Virgin brand, aiming to double its customer base by targeting the 85% of the Spanish telecoms market which the company currently did not address.

"Euskaltel aims to grow revenues to more than €1.2bn and EBITDA to €0.5bn by 2025 - an increase of 1.8x and 1.4x versus 2019 - whilst paying an attractive dividend.

"With the recent Telefonica and Orange announcements, Euskaltel has increased its marketable fiber footprint from 2.4 million to almost 20 million homes passed."

Negotiations to refinance the amortising debt ended with the unanimous agreement of all the financial institutions involved, Zegona said.

Zegona is Euskaltel's largest shareholder, with a disclosable interest of more than 20%, with Euskaltel trading on the stock markets of Bilbao, Madrid, Barcelona and Valencia.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ZEG Market Data

Currency UK Pounds
Share Price 225.00p
Change Today -5.00p
% Change -2.17 %
52 Week High 246.00
52 Week Low 31.20
Volume 12,253
Shares Issued 704.15m
Market Cap £1,584.34m
RiskGrade 74

ZEG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
49.43% below the market average49.43% below the market average49.43% below the market average49.43% below the market average49.43% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ZEG Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 01-Jul-21 11-Feb-21
Paid 23-Jul-21 09-Mar-21
Amount 2.60p 2.20p

Trades for 27-Feb-2024

Time Volume / Share Price
13:32 98 @ 226.00p
13:32 1,000 @ 226.00p
13:28 1,000 @ 226.00p
13:28 34 @ 228.00p
13:02 251 @ 228.00p

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