German cableco Kabel Deutschland (KDG) is planning to raise US$500m of new senior secured floating rate loans due 2019 in order to refinance its existing debt.
In a statement, the company said that the new loan will be issued as a tranche under its…
German cableco Kabel Deutschland (KDG) is planning to raise US$500m of new senior secured floating rate loans due 2019 in order to refinance its existing debt.
In a statement, the company said that the new loan will be issued as a tranche under its existing senior credit facilities.
The proceeds would be used to redeem portions of existing loans maturing in 2012, 2013 and 2014.
The bookrunning mandated lead arrangers are BNP Paribas, Deutsche Bank, Goldman Sachs and RBS.
The ratings agency Fitch gave the loan a BB+ rating. It said that the loan would help “extend the company’s debt maturity profile and reduce its 2014 refinancing exposure without any impact on leverage”.
