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No IPO plan for Ziggo
Dutch cable operator Ziggo has denied resurging rumours that an IPO is on the cards.
Ziggo’s spokesperson Wouter van de Putte told TelecomFinance: “There are many equity capital market specialists who have argued that an IPO by Ziggo would be very well…
Dutch cable operator Ziggo has denied resurging rumours that an IPO is on the cards.
Ziggo’s spokesperson Wouter van de Putte told TelecomFinance: “There are many equity capital market specialists who have argued that an IPO by Ziggo would be very well received by investors, but we are not making any preparations for an IPO at this time.”
The company is currently preparing a bond issue to refinance E1bn worth of mezzanine debt. Credit Suisse and Goldman Sachs are advisers for the refinancing and bookrunners for the issue. ING is facility agent.
Wouter van de Putte said: “We organised a presentation to our lenders two weeks ago but there is no date set for the issue of the bonds.”
Ziggo, which is owned by Cinven and Warburg Pincus, is the country’s largest cable operator. It claims 3.2 million broadband subscribers, 1.6 million digital TV subscribers and one million telephony subscribers.
