German cable operator Kabel Deutschland (KDG) completed last week the redemption of its remaining senior notes due 2014.
The company used the proceeds of a new six-year E400m term loan and existing liquidity to repay E226m of its 10.75% notes due in 2014…
German cable operator Kabel Deutschland (KDG) completed last week the redemption of its remaining senior notes due 2014.
The company used the proceeds of a new six-year E400m term loan and existing liquidity to repay E226m of its 10.75% notes due in 2014 and US$145m of its 10.625% notes due in 2014.
The senior notes were redeemed at the current call price of 103.583% for the Euro-denominated and 103.542% for the US$-denominated senior notes.
In a December statement, the company explained that these repayments would result in savings of about E20m per year.
