Ziggo Refinancing Transactions
(Thomson Reuters ONE) -
Ziggo Refinancing Transactions
Ziggo Receives Commitments for a New Credit Facility and Announces Debt Investor
Meetings
Ziggo (the "Company" or "We") today announced that it has received commitments
from a number of banks to provide a new ?800mn Senior Secured Credit Facility
(the "New Credit Facility"). The New Credit Facility is being provided by ABN
Amro Bank N.V., BNP Paribas Fortis SA/NV, Cooperative Centrale Raiffeisen
Boerenleenbank B.A. (trading as Rabobank International), Credit Suisse AG London
Branch, Goldman Sachs International, ING-DiBa A.G., J.P. Morgan Limited, Morgan
Stanley Bank International Limited and Société Générale, London Branch. The New
Credit Facility will consist of a ?400mn Revolving Credit Facility and a ?400mn
Term Loan A. Both the RCF and Term Loan A will pay a funded margin of E+200bps,
will have a 5-year maturity from initial drawing and proceeds will be used to
partially refinance Ziggo's existing Senior Secured Credit Facility. Utilisation
of the facilities is subject to certain customary conditions, including raising
sufficient total financing sources to fully refinance Ziggo's existing credit
facilities.
The Company also announces that it has mandated Goldman Sachs and JP Morgan to
set up a series of investor meetings in view of a potential additional
refinancing, which may include a capital markets transaction.
There has been no material change in our trading or financial position since
December 31, 2012. Trends for RGUs are currently in line with RGU trends during
the fourth quarter of 2012, a period in which we experienced increased churn as
a result of a market which has been rapidly developing towards triple-play as
well as increased competition from other operators.
In February 2013, we started several new sales and promotion campaigns focused
on triple play, dual play and up-sell to interactive TV services. In the second
quarter we will start new campaigns focusing on customer loyalty and churn
reduction.
We reiterate our guidance as outlined during the release of our annual results
for 2012. We expect EBITDA for 2013 to increase in the range of 2.5-3.5% with
revenue growth moderately ahead of this rate. We anticipate an increase in
revenue momentum over the course of 2013 as our marketing initiatives take
effect. Our capital expenditure for 2013 is expected to be in the range of ?320-
?330 million.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking statements and information about
future financial performance and earnings that is necessarily subject to risks,
uncertainties, and assumptions. Although the statements are made in good faith
based on present management estimates, no assurance whatsoever is given that the
guidance about future performance and other estimates will be achieved. Ziggo
assumes no obligation to update or correct the information contained in this
announcement, which only speaks as of its date (subject in all cases to all
applicable laws).
About Ziggo
Ziggo is a Dutch provider of entertainment, information and communication
through television, internet and telephony services. The company serves around
2.8 million households, with almost 1.8 million internet subscribers, more
than 2.2 million subscribers using digital television and 1.5 million
telephony subscribers. Business-to-business customers use services such as
data communication, telephony, television and internet. The company owns a
next-generation network capable of providing the
bandwidth required for all future services currently foreseen. More
information on Ziggo can be found on: www.ziggo.com
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Not for publication Analysts and Investors
Wouter van de Putte
For more information please contact: Director Corporate Finance & Investor
Relations
Press +31 88 717 1799 |
Martijn Jonker investorrelations(at)office.ziggo.nl
Senior Communications Officer
+31 88 717 2419 | Christian Berghout
Martijn.Jonker(at)office.ziggo.nl Manager Corporate Finance & Investor
Relations
+31 (0)88 717 1051
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ziggo via Thomson Reuters ONE
[HUG#1685863]
Unternehmensinformation / Kurzprofil:
Datum: 18.03.2013 - 08:58 Uhr
Sprache: Deutsch
News-ID 240137
Anzahl Zeichen: 5417
contact information:
Town:
Utrecht
Kategorie:
Business News
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