Numericable plans debt refinancing

News Broadband France 25 JUL 2011
Numericable plans debt refinancing
French cable operator Numericable is considering a bond issue to refinance its debt. The issue would be accompanied by a change in conditions on part of its senior debt and an extension in its maturity to 2014. Numericable said this could also lead to a tightening in bank covenants. The company has debt of EUR 2.35 billion, down from EUR 3.3 billion in 2006 thanks to improved results and the sale of its Belgian activities. Its bond are rated B by Standard & Poor's. Numericable said the proposal had a favourable response from a number of lenders.

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Fixed

Countries:

France

Tags:

Cable - Docsis, Financial funding

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