Nachrichten January 29, 2014

Shearman & Sterling Advises Ziggo N.V. on €4 Billion Refinancing in Connection with Acquisition of Ziggo Group by Liberty Global

Shearman & Sterling represented Ziggo N.V. on its refinancing, comprising new €3.3 billion term loan facilities and a new €650 million revolving credit facility in connection with the acquisition of the Ziggo Group by Liberty Global.

As part of the refinancing, Ziggo launched a tender offer and consent solicitation relating to its €750 million 3.625% Senior Secured Notes due 2020, and an exchange offer for up to €934 million aggregate principal amount of its outstanding €1,208,850,000 8% Senior Notes due 2018, in exchange for new 8% Senior Notes, due 2018. Ziggo also intends to refinance its other existing debt obligations.

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 1.9 million internet subscribers, 2.3 million subscribers for digital television and 1.6 million telephony subscribers. Business-to-business subscribers use services such as data communication, telephony, television and internet.

The Team