By Paul A. Harris
St. Louis, July 22 - UPC Holding BV, subsidiary of Liberty Global Inc., priced an upsized €500 million issue of senior notes (B3/CCC+) due Jan. 15, 2014 at par to yield 7¾%, according to a market source.
Price talk was set at the 7¾% area.
Credit Suisse First Boston and JP Morgan were the bookrunners for the Rule 144A/Regulation S issue.
Proceeds will be used for general corporate purposes.
The issue was upsized from €300 million.
Liberty Global, which has headquarters in Denver, owns interests in broadband distribution and content companies operating outside the United States, principally in Europe, Asia and the Americas.
| Issuer: | UPC Holding BV (Liberty Global Inc.)
|
| Amount: | €500 million, increased from €300 million
|
| Maturity: | Jan. 15, 2014
|
| Security description: | Senior notes
|
| Bookrunners: | Credit Suisse First Boston, JP Morgan
|
| Coupon: | 7¾%
|
| Price: | Par
|
| Yield: | 7¾%
|
| Spread: | 464 basis points
|
| Call protection: | Three years
|
| Trade date: | July 22
|
| Settlement date: | July 29
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: CCC+
|
| Price talk: | 7¾% area
|
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