Early bird responses come in for Kabel Deutschland’s amend and extend
More than 40% of lenders have already agreed to Kabel Deutschland’s (KDG) request to amend and extend its debt, ahead of a November 19 deadline. This follows early approaches by banks leading the process to key lenders, and represents 65% of the consents required for approval.
There have been no hiccups so far, said a banker working on the deal.
The cable network operator is offering fees of 50bp to lenders that consent by the early bird deadline of November 12. Those that give their consent in the final week will get 25bp.
The amendments include
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