European media, telecom capital market activity rises to $3.39B in April

Publicly traded media and telecommunications companies in Europe raised $3.39 billion through capital offerings in April, surpassing the $2.31 billion raised in the previous month and the $2.07 billion collected a year earlier.

Debt offerings contributed $3.37 billion to the total capital raised, while common equity offerings brought in $21.7 million, according to S&P Global Market Intelligence data.

Italian digital network infrastructure operator FiberCop SpA's $1.16 billion offering of 5.375% senior secured notes due 2031 was the sector's highest in April and the fourth-largest so far this year.

The proceeds from the transaction are expected to bolster FiberCop's cash balance, which will be used for general corporate purposes and offering-related costs. JP Morgan SE was the stabilization coordinator, while BofA, KKR Capital Markets, Citi, UniCredit and BNP Paribas were among the stabilization managers.

– Read about Europe's media and telecom capital market activity in March. – Run a custom screen of capital offerings by industry or geography on our Transactions Statistics page.

FiberCops' two additional offerings, amounting to $590.2 million and $586 million, were also among the largest capital raises in the European media and telecom sector overall. Both were completed in April.

Meanwhile, Deutsche Telekom AG issued $878.0 million in 3.875% notes due 2038. The company plans to use the proceeds for general corporate purposes.

Orange SA's $2 billion and $1.5 billion offerings, completed in January, remain the largest and second-largest in the sector so far this year.

Among the media and telecom subsectors, integrated telecommunication services companies raised the most capital year to date at $9.34 billion.

The alternative carriers subsector came in second with $2.34 billion, followed by the cable and satellite segment with $1.93 billion.