Kabel Deutschland Increases New U.S. Loan by 50% to $750 Million

Kabel Deutschland Holding AG, (KD8) Germany’s largest cable television operator, said it increased its new U.S. term loan by 50 percent to $750 million because of “significant” demand from investors.

The seven-year loan was priced at 98.5 cents on the dollar and pays interest of 3.25 percentage points more than the London interbank offered rate, the Munich-based company said today in a statement. The facility has a 1 percent Libor floor.

Kabel Deutschland is also seeking lender approval by Feb. 1 to extend the maturities of its existing term loan A and term loan C to March 2017 from 2014, according to the statement. Loans designated A are sold primarily to banks, while C credits are mainly bought by non-bank lenders.

Goldman Sachs Group Inc., BNP Paribas SA, Deutsche Bank AG, JPMorgan Chase & Co., Morgan Stanley and Royal Bank of Scotland Group Plc are managing the loan order book and the extension request.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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