German cableco Unitymedia yesterday successfully placed €650m of bonds. The initial €400m issue was upsized by €250m following strong investor demand.
The bonds, which mature in 2022, pay 5.5% interest. According to a company spokesperson Morgan…
German cableco Unitymedia yesterday successfully placed €650m of bonds. The initial €400m issue was upsized by €250m following strong investor demand.
The bonds, which mature in 2022, pay 5.5% interest. According to a company spokesperson Morgan Stanley was lead on the transaction. Other banks involved are Citi, BofA Merrill Lynch, UBS and Deutsche Bank.
Unitymedia plans to use the proceeds to redeem a €395.9m senior secured floating rate notes due 2018 with the rest being used for general corporate purposes.
Moody’s assigned a (P)Ba3 rating to the notes.
Unitymedia is the German subsidiary of Liberty Global.
