P4 to issue bonds and pay cash to owners

P4, the operator of the Play mobile telephony network, will issue bonds worth €415 million in order to secure cash payouts for its shareholders, Parkiet reports. Earlier this year, P4 issued bonds worth €900 million. The company’s shareholders, Icelandic fund  Novator and Greek fund Tollerton, then received some PLN 1.3 billion (around €300 million) in cash. After the new issue, they may receive about PLN 3 billion (€720 million) in total. The payout equals to what the funds invested into the company over the past seven years plus a 15-percent bonus.