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United Group Hires Goldman to Sell Assets as Debt Deadlines Loom

  • Firm to sell some of mobile tower assets to shore up liquidity
  • United Group’s bonds rise on reaction to debt repayment plan
Updated on

BC Partners-backed telecom provider United Group BV has appointed Goldman Sachs Group Inc. to sell some of its mobile tower assets in a bid to shore up liquidity and repay its near-term bond maturities, the company said in a statement on Wednesday.

The announcement comes as bonds of United Group fell to deeply distressed levels in recent weeks amid soaring inflation and a rising interest-rate environment.  Riskier issuers have struggled to refinance debt this year as investor appetite slumped against the volatile backdrop following Russia’s invasion of Ukraine in February.