Tele Columbus completes refinancing

13 Feb 2014

German regional cable operator Tele Columbus has successfully completed the refinancing of its existing credit lines and says it is orienting itself towards long-term growth based on a stable capital structure. According to the company, the extension of the credit agreements and the new business planning will give it scope for further expansion in the cable market, and will enable it to more intensively upgrade its infrastructure for broadband internet and telephony. In the coming years – in addition to comprehensive capital reserves – Tele Columbus will also have an investment volume of EUR300 million (USD408.4 million) to expand the business. On this financial basis, an annual operating earnings increase in the double-digit percentage range is planned by 2017. ‘The completion of refinancing marks a major breakthrough in the company’s development,’ commented Ronny Verhelst, CEO of the Tele Columbus Group, adding: ‘With the investment framework available to us, we can continue to fulfill the individual technical needs of our housing industry partners and end customers and increase our attractiveness as a provider. Our goal is quite clear – growth in our existing networks as well as expansion beyond our own infrastructure, provided that attractive opportunities arise on the market.’

Germany, Tele Columbus Group (PYUR)