2013-03-21 17:42:55 -
21-March-2013
Successful pricing of €750mn Senior Secured Notes
Ziggo ('Ziggo' or the 'Company'), the largest cable operator in the
Netherlands,
today announced the successful pricing of its €750 million senior secured notes
due 2020 (the 'Notes'). The Notes will be issued by Ziggo B.V.. They will have a
coupon of 3.625% per annum and will be issued at a price equal to 99.8% of their
face value to yield 3.658% per annum. As a result, the Term
Loan A under our new Credit Facility will be reduced from €400mn to €150mn and
the Revolving Credit Facility will consist of the earlier announced €400mn.
The net proceeds, in combination with the proceeds of the new credit facility,
will be used to repay outstanding amounts under the Company's existing Senior
Credit Facility. This refinancing will lead to reduced financing costs for the
Company as well as an extension of the debt maturity.
Important Regulatory Notice
United States
This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The
Notes mentioned herein have not been, and will not be, registered under the
United States Securities Act of 1933 (the 'Securities Act'). The Notes may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act. There will
be no public offer of the Notes in the United States.
European Economic Area
This announcement has been prepared on the basis that the offering of the Notes
in any Member State of the European Economic Area which has implemented the
Prospectus Directive (each, a "Relevant Member State") will be made pursuant to
an exemption under the Prospectus Directive from the requirement to publish a
prospectus for offers of Notes. The expression "Prospectus Directive" means
Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending
Directive, to the extent implemented in the Relevant Member State), and includes
any relevant implementing measure in the Relevant Member State and the
expression "2010 PD Amending Directive" means Directive 2010/73/EU.
Netherlands
This announcement does not constitute or form part of an offer or solicitation
of an offer to purchase or subscribe for securities in the Netherlands. The
securities referred hereto have not been and shall not be offered, sold,
transferred or delivered to the public in the Netherlands unless in reliance on
Article 3(2) of the Prospectus Directive and provided: (i) such offer is made
exclusively to legal entities which are qualified investors (as defined in the
Prospectus Directive and which includes authorized discretionary asset managers
acting for the account of retail investors under a discretionary investment
management contract) in the Netherlands; or (ii) standard logo and exemption
wording is disclosed, as required by article 5:20(5) of the Dutch Financial
Supervision Act (Wet op het financieel toezicht) (the "FSA"); or (iii) such
offer is otherwise made in circumstances in which article 5:20(5) of the FSA is
not applicable.
United Kingdom
This announcement is being distributed only to, and is directed only at (a)
persons who are outside the United Kingdom, (b) persons who have professional
experience in matters relating to investments who fall within Article 19(1) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(the "Order") or (c) high net worth entities, and other persons to whom it may
otherwise lawfully be communicated, falling within Article 49(1) of the Order
(all such persons together being referred to as 'relevant persons'). The
investments to which this announcement relates are available only to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire such
investments will be available only to or will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents. Persons distributing this announcement must
satisfy themselves that it is lawful to do so.
Neither the content of Ziggo's website nor any website accessible by hyperlinks
on Ziggo's website is incorporated in, or forms part of, this announcement. The
distribution of this announcement into jurisdictions other than the Netherlands
or the United Kingdom may be restricted by law. Persons into whose possession
this announcement comes should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.
Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements and information that are
necessarily subject to risks, uncertainties, and assumptions. No assurance can
be given that the transactions described herein will be consummated or as to the
terms of any such transactions. Ziggo B.V. assumes no obligation to update or
correct the information contained in this announcement.
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 Treasury & Investor
Relations
Press +31 88 717 1799 |
Martijn Jonker
investorrelations@office.ziggo.nl
Director Corporate Communications a.i.
+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#1687259]
