Ziggo : Ziggo Refinancing Transactions 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 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 firstname.lastname@example.org Senior Communications Officer +31 88 717 2419 | Christian Berghout Martijn.Jonker@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
Ziggo : Ziggo Refinancing Transactions
Press spacebar to pause and continue. Press esc to stop.