UPC Broadband to get $325 million in term loan T debt, €35 million term loan Q3

By Sara Rosenberg

New York, Sept. 8 - UPC Broadband Holding BV is getting a $300 million term loan T2, a $25 million term loan T3 and €35 million term loan Q3, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The T2 and the T3 are priced at Libor plus 350 basis points and the Q3 is priced at Euribor plus 275 bps.

The term loan T2 was issued at a discount of 4%.

LG Europe is the initial lender under the T2 and will novate its commitments to the lenders who will be participating in the tranche.

Completion of the T2 is subject to the execution of the applicable novation certificates by the relevant parties.

A lender under the existing facility L agreed to roll its existing commitment into the new term loan Q3 by novating its existing facility L commitment to Liberty Global Europe BV, a direct subsidiary of UPC, and entering into the new Q3.

Funding of the T3 and the Q3 is expected to take place on Sept. 11.

UPC is a subsidiary of Englewood, Colo.-based Liberty Global, which provides video, voice and broadband internet services.

© 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.