KDG set to exceed €500m A&E target
German cable firm Kabel Deutschland (KDG) has sent out a notice of prepayment to lenders after easily exceeding its original target of extending €500m of term loans ‘A1’, ‘A2’ and ‘C1’. The company is understood to be ready to accept extensions from all those lenders who consented, which market participants said represented more than €700m.
KDG (BB-/Ba2/BB) launched the amend and extend on January 23, just after it raised $750m for a new term loan F. Proceeds from that loan will be directed at repaying lenders that have not extended.
Bankers and loan managers had predicted KDGs request would be successful, with the company
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.