Luxembourg and Belgium cable company Coditel seems to be determined to press ahead with its E260m bond issue, despite signs that the eurozone crisis is threatening to shut down Europe’s high-yield market, according to media reports.
Global…
Luxembourg and Belgium cable company Coditel seems to be determined to press ahead with its E260m bond issue, despite signs that the eurozone crisis is threatening to shut down Europe’s high-yield market, according to media reports.
Global co-ordinator Morgan Stanley was quoted in a Reuters report saying that the bond would go ahead. ING is reportedly joint-bookrunner.
The company reportedly started on Monday a four-day roadshow for the senior secured bond, rated B3/b. The high-yield bond reportedly aims to replace the bridge loan that backed the takeover of the cable business by a private equity consortium consisting of Apax, Altice and Deficom. The acquisition completed on 30 June.
Numericable was advised by Rothschild.
