Technology

Backing Isle of Man’s future telecommunications

Macquarie Capital advised Manx Telecom on its successful £150m refinancing, establishing an infrastructure financing package to support its future business strategy.

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Sector Technology
Sub-sector Telecommunications
Location United Kingdom

Opportunity

Manx Telecom is a leading telecommunications provider on the Isle of Man. After advising Basalt Infrastructure Partners on its successful acquisition of Manx Telecom in 2019, Macquarie Capital was appointed to help refinance Manx Telecom’s bridge loan facilities.

Approach

Macquarie Capital acted as exclusive financial adviser to Manx Telecom on the refinancing, raising £150m of new facilities to be applied both in refinancing its bridge loan facilities and to help support its future capex requirements.

Outcome

We recommended pausing to recalibrate during COVID-19 volatility, significantly improving the terms of the refinancing and liquidity of lenders.

Strong liquidity

received from both bank and institutional lenders

Effective coordination

of lenders, legal advisors and hedging advisors enabled efficient execution

37,000 homes

connected on the Isle of Man

4,000 businesses

connected on the Isle of Man

Learn more

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