Cebridge Refi Brings Down Debt

The term loan "B" for St. Louis-based cable provider Cebridge Connections, now known as Suddenlink and owned by investment and management firm Cequel III, has slowly fallen about a point on news it is refinancing its existing debt.

  • 30 Mar 2007
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The term loan "B" for St. Louis-based cable provider Cebridge Connections, now known as Suddenlink and owned by investment and management firm Cequel III, has slowly fallen about a point on news it is refinancing its existing debt. The term loan was bid at 99 3/4 and offered at par last Wednesday afternoon, according to a dealer. The upsized seven-and-a-half year, $2.325 billion refinanced credit is being cut 25 basis points to LIBOR plus 2%, with an original issue discount of 99 3/4 and 101 soft call protection for 18 months.

Investors indulged in the initial $2.2 billion credit in April 2006 (CIN, 4/10). Led by Credit Suisse and Goldman Sachs, the existing $2.1 billion term loan is currently priced at LIBOR plus 2 1/4% (5/8). Cebridge tapped the banks last May to finance its acquisition of assets from Charter Communications and Cox Communications. Ralph Kelly, treasurer, declined comment.

  • 30 Mar 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Jan 2017
1 CITIC Securities 1,560.67 2 10.70%
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4 Rabobank 1,081.86 1 7.42%
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