British telecoms provider Airwave has pushed out the maturity of £1.7bn (US$2.8bn) in buyout debt to 2019, according to its parent Macquarie Group.
Airwave, which operates a network used by emergency services, is held by holding company Guardian…
British telecoms provider Airwave has pushed out the maturity of £1.7bn (US$2.8bn) in buyout debt to 2019, according to its parent Macquarie Group.
Airwave, which operates a network used by emergency services, is held by holding company Guardian Digital Communications, which in turn is a subsidiary of Macquarie’s European Infrastructure Fund II.
The debt is held by Guardian Digital and was due later this month. In late February creditors voted on a court-approved scheme of arrangement, with 98% in favour.
Airwave operates a nationwide terrestrial trunked radio network, also known as Tetra, which caters for the police, fire and ambulance services, allowing them to communicate using walkie-talkies.
Macquarie acquired Airwave from Telefonica’s UK subsidiary 02 in 2007 for £1.9bn. At the time Jim Craig, head of Macquarie’s European operations, said it had committed to Airwave for a minimum of 10 years.
