Kabel Deutschland arranges new loan
06 Dec 10 -
German cable operator Kabel Deutschland is set to save about €20 million per year after it took up new loan arrangements.
The cabler took up a new €400 million term loan to pay off its existing junior ranking senior notes. The company will repay €226 million of its 10.75% notes and US$145 million (€108 million) of its 10.63% notes as part of its cost cutting drive. It expects commitments for the new loan by December 10 following a call with potential investors on December 7.