Ziggo to raise EUR3.2bn of new debt

16 Sep 2016

The Dutch cableco Ziggo, which is part of the Liberty Global group, says it plans to raise new debt totalling EUR3.2 billion (USD3.63 billion). Ziggo Secured Finance will offer, subject to market conditions, EUR2.575 billion (or US dollar equivalent) of senior secured notes due 2027, while Ziggo Bond Finance will offer EUR625 million of senior notes, also due 2027. Some of the proceeds will refinance existing debt, while the rest will be held in escrow pending completion of Ziggo’s merger with Vodafone Netherlands to be used to fund a dividend payment, to refinance indebtedness, to pay merger-related fees and expenses, and for general corporate purposes.

Netherlands, VodafoneZiggo