Ziggo gets $1 bil­lion loan to re­fi­nance debt

The Pak Banker - - 6BUSINESS -

Ziggo NV (ZIGGO), a Dutch ca­ble tele­vi­sion op­er­a­tor, raised 800 mil­lion eu­ros ($1 bil­lion) of loans to re­fi­nance debt and hired banks for a po­ten­tial bond sale. The com­pany, whose big­gest share­hold­ers are War­burg Pin­cus LLC and Cin­ven Ltd., re­ceived com­mit­ments for the five-year debt from a group of 13 banks, ac­cord­ing to a state­ment. The term loan and credit line pay an in­ter­est rate of 200 ba­sis points more than bench­mark rates, it said. A ba­sis point is 0.01 per­cent­age point. The Utrecht, Nether­lands-based com­pany said Gold­man Sachs Group Inc. and JPMor­gan Chase & Co. has hired to ar­range in­vestor meet­ings for a po­ten­tial bond sale that may be used to re­fi­nance debt. In­vestor meet­ings for the deal be­gin to­day, said a per­son fa­mil­iar with the trans­ac­tion, who asked not to be iden­ti­fied be­cause the terms aren't set.

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