Leading German cableco Kabel Deutschland (KDG) has filed a form with the US Securities and Exchange Commission (SEC) to deregister its E250m 10.75% senior notes and its US$610m 10.625% senior notes due 2014.
In a statement, the company explained that the…
Leading German cableco Kabel Deutschland (KDG) has filed a form with the US Securities and Exchange Commission (SEC) to deregister its E250m 10.75% senior notes and its US$610m 10.625% senior notes due 2014.
In a statement, the company explained that the benefits associated with the SEC registration did not merit the time and costs spent meeting SEC requirements. A spokeswoman for KDG confirmed that the SEC registration was no longer necessary.
Although the cable operator never listed, traded or quoted its notes on stock exchanges in the US, it registered with the SEC in 2004 in order to bolster its credibility as a newly founded company, explained the source.
Despite that deregistration, which should go into effect within the next three months, KDG will continue to serve investors with transparent financial reporting, read the statement.
