German cable operator Kabel Deutschland has plans to issue an additional 200 million euros ($242.2 million) of its existing senior secured notes due 2018. The net proceeds will be used to finance, in part, the acquisition of Tele Columbus or, in case the acquisition is not completed, for general corporate purposes.
Kabel Deutschland, Germany’s largest cable network operator, announced today that it plans to issue an additional €200 million of its existing Senior Secured Notes due 2018 (the ‘Notes‘) originally issued in June 2011 and carrying a coupon of 6.5%. The Notes will replace the remaining 200 million euros ($242.2 million) committed bridge financing the Company secured in connection with the proposed acquisition of Tele Columbus GmbH (‘Tele Columbus’) announced on May 21, 2012. The net proceeds will be used to finance, in part, the acquisition of Tele Columbus or, in case the acquisition is not completed, for general corporate purposes.
U A bout Kabel Deutschland
Kabel Deutschland (KD), Germany’s largest cable operator, offers its customers digital, high definition (HD) and analog TV, Pay
TV and DVR offerings, Video on Demand, broadband Internet (up to 100 Mbit/s) and fixed-line Phone services via cable as well
as mobile services in cooperation with an industry partner. The publicly listed company (MDAX, MSCI Europe, Stoxx 600
Europe) operates cable networks in 13 German federal states and supplies its services to approximately 8.5 million connected
households. As per end of fiscal year 2011/2012, Kabel Deutschland had approximately 2,800 employees. In fiscal year
2011/2012 (12 months ended March 31, 2012), the Company reported revenues of €1,700 million and an Adjusted EBITDA of