Ziggo in market for biggest term loan ‘B' since financial crisis

By Olivier Holmey
31 Jan 2014

Dutch cable operator Ziggo has launched a €3.7bn-equivalent term loan ‘B’ to back its takeover by US counterpart Liberty Global, in a deal which bankers have called the largest leveraged loan to rely on institutional investors since the financial crisis.

Other loans packages have been larger. In June 2009, HeidelbergCement raised an €8.7bn deal split between a €5.21bn bullet term loan ‘A’, a €1.25bn bullet term loan ‘B’ and a €2.29bn revolver. HeidelbergCement’s deal is still the largest by a speculative grade European borrower since Lehman Brothers' bankruptcy ...

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