UPC completes tender for 7¾%, 8 5/8% notes; remainder to be redeemed

By Jennifer Chiou

New York, Aug. 13 - UPC Holding BV announced that it accepted tenders for €205.5 million of its €384.6 million of 7¾% senior notes due 2014 as well as €101.3 million of its €230.9 million of 8 5/8% senior notes due 2014 in the offer that wrapped at 11 a.m. ET on Aug. 12.

The Dutch cable operator and subsidiary of Liberty Global, Inc. said that proceeds from its offering of 8 3/8% notes were used to fund the offer.

Remaining proceeds will go towards the redemption and discharge of both series of senior notes due 2014 - Aug. 20 for the 7¾% notes and Sept. 13 for the 8 5/8% notes.

UPC had sought to reduce the minimum redemption notice period for the notes, but only received the needed consents from holders of the 7¾% notes.

UPC is a subsidiary of Liberty Global, Inc., an international cable operator based in Englewood, Colo.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.