UPC to close increased debt exchange

UPC, the Dutch broadband company, is closing a debt exchange which allows it to extend the maturities of some of its bank debt. The debt exchange was originally intended to roll up to $750m of the ‘M’ and ‘N’ term loans maturing in 2014 into the new facilities due in 2016, but, as EuroWeek reported last week, it was seven times oversubscribed and was increased.