By Rebecca Melvin
New York, Jan. 31 – VodafoneZiggo Group BV announced that its Ziggo BV subsidiary has sold a dual tranche deal of add-ons to issues priced in October 2019.
The company has sold an additional $200 million of notes due 2030 with a 4 7/8% coupon and €77.5 million of additional notes to its 2 7/8% notes issue due 2030.
The original $500 million of 4 7/8% notes and the original €425 million of 2 7/8% notes were issued on Oct. 28, 2019.
The issuer will use the proceeds of the additional notes to fund redemptions of portions of its 5½% senior secured notes due Jan. 15, 2027 and euro-denominated 4¼% senior secured notes due Jan. 15, 2027 and for general corporate purposes, which may include loans, distributions or other payments to VodafoneZiggo and its direct or indirect parent companies.
The 2027 notes have a redemption price equal to 103% of par plus accrued interest.
Goldman Sachs International acted as bookrunner for the transaction.
The telecommunications company is based in Utrecht, the Netherlands.
| Issuer: | Ziggo BV
|
| Amount: | $200 million and €77.5 million
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| Security description: | Add-on to 4 7/8% notes and 2 7/8% notes due 2030
|
| Bookrunner: | Goldman Sachs International
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 11
|
| Distribution: | Regulation S
|
|
|
| 2030 dollar notes
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| Amount: | $200 million
|
| Maturity: | Jan. 15, 2030
|
| Coupon: | 4 7/8%
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| New total deal size: | $700 million
|
|
|
| 2030 euro notes
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| Amount: | €77.5 million
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| Maturity: | Jan. 15, 2030
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| Coupon: | 2 7/8%
|
| New total deal size: | €502.5 million
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