Dutch cable operator Ziggo has refinanced a portion of its debt and extended another portion.
The company has secured a E460m term loan F which refinances a E210m term loan C and a E250m second lien loan D tranche.
In addition, it said that 89% of its…
Dutch cable operator Ziggo has refinanced a portion of its debt and extended another portion.
The company has secured a E460m term loan F which refinances a E210m term loan C and a E250m second lien loan D tranche.
In addition, it said that 89% of its term loan B extended the maturity of their commitments by 2.5 years. The new tranche, which matures in September 17, has been priced at 325 bp over Euribor. The loan is about E1bn.
Morgan Stanley and ING led the amend and extend consent process, also act as MLAs for the new F term loan
Ziggo’s owners, Cinven and Warburg Pincus are planning to list the cable operator this summer, but earlier this month Liberty Global, which already owns UPC Netherlands, was reported to be preparing a takeover bid.
STJ has been hired by Cinven and Warburg Pincus to find bookrunners for an IPO, but Deutsche Bank, JPMorgan, Morgan Stanley and UBS have reportedly already been hired.