Best high yield borrower: Tim Hellas

The Greek telecommunications firm completed one of the most successful LBO bridge loan refinancings seen to date in the European market.

The world’s best borrowers in 2006

In 2005 there was a marked increase in leveraged finance activity in Greece. Greek mobile phone operator Tim Hellas stands out for a number of reasons, not least the fact that it has executed good deals at opportune moments, raising its money at decent levels and in interesting structures, including a PIK note.

Tim Hellas has been one of the biggest and most interesting issuers in the high-yield market because it has raised €250 million of senior facilities, €1.3

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