Bite Finance to redeem all floaters due 2014, 2017 via notes proceeds

By Tali David

Minneapolis, Jan. 28 - Bite Finance International BV plans to use the proceeds from an offering of €200 million of senior secured floating-rate notes due 2018 to retire all of its outstanding existing senior secured floating-rate notes due 2014 and senior subordinated floating-rate notes due 2017, according to a news release.

The company also expects to repay any amounts outstanding under its subsidiary's revolving credit facility, repay certain third-party debt of its parent and pay fees and expenses incurred in connection with the offering and the transactions.

Bite Finance, through its subsidiaries, provides mobile telecommunication and mobile internet services to residential and business customers in Lithuania and Latvia. It is based in Amsterdam.

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