UPC Broadband Holding obtains new $23.7 million T7 facility agreement

By Jennifer Chiou

New York, May 28 - UPC Broadband Holding BV entered into a new additional facility accession agreement on Thursday under its senior secured bank facility for a $23.7 million facility T7, according to an 8-K filed with the Securities and Exchange Commission.

Under the new additional facility T7 accession agreement, the existing facility T was upsized by a facility P lender, which agreed to roll its existing facility P commitment into the facility T.

The rolling lender of the facility P novated its existing commitment to UPC Broadband Operations BV, a direct subsidiary of UPC Broadband Holding, and entered into the new facility T7.

The facility T7 will mature at the earlier of Dec. 31, 2016 and Oct. 17, 2013, which is the date falling 90 days prior to the when UPC Holding's senior notes due in 2014 are scheduled to mature.

Borrowings under the facility T7 will bear interest at Libor plus 350 basis points.

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

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