Numéricable presses on with IPO plans
Numéricable, the French cable operator, has entered discussions with investors about a potential takeover of its sister company Completel. The documentation amendments, which leads presented in a conference call on Wednesday evening, are part of Numéricable’s broader preparation for an initial public offering.
The changes would allow Numéricable to acquire Completel at no cost, and refinance its €450m of debt. Numéricable’s credit facilities, meanwhile, would remain unchanged.
After the transaction, the debt to Ebitda ratio of the combined group would be around 4.4 times, making the business more appealing to investors
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