Unitymedia plans to redeem 10% of 6¼%, 4 5/8% notes, all 5 5/8% notes

By Sarah Lizee

Olympia, Wash., May 25 – Unitymedia Hessen GmbH & Co. KG and Unitymedia NRW GmbH issued redemption notices for 10% of their €475 million 6¼% senior secured notes due 2029, 10% of their €420 million 4 5/8% senior secured notes due 2026 and all of their outstanding €350 million 5 5/8% senior secured notes due 2023.

The notes will be redeemed on June 5, according to three separate notices.

The 6¼% notes and 4 5/8% notes will be redeemed at 103% of par, and the 5 5/8% notes will be redeemed at 102.813% of par, in each case plus accrued interest to the redemption date.

The issuers said the redemptions are conditional upon receipt of proceeds of Unitymedia Hessen’s facility E term loan with Bank of Nova Scotia as facility agent.

Unitymedia is a Cologne, Germany, cable operator and a subsidiary of Liberty Global plc.

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