Kabel Deutschland launches ‘most proactive’ amendment yet

Kabel Deutschland (KDG), the German cable network operator, launched a covenant amendment request today (Wednesday) in a move which was received by market observers as an encouraging sign that companies are becoming increasingly proactive about ensuring their financial stability.

  • 11 Feb 2009
KDG is requesting a tweak to its senior leverage covenant for the period of December 2010 to December 2011 — it is set to step down from three times [WHAT] to two at the end of 2020, and KDG wants the step-down process to be smoothed over and ...

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1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

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5 Credit Suisse 41,885.89 127 5.55%