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 €934,000,000 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 Shearman & Sterling team of lawyers from the firm’s London and Washington, DC offices included Finance partners Peter Hayes and James Duncan, counsel Gabrielle Wong and associates Philip Stopford, Chris White, Monsiree Jirasarunya, and Sara Couling; Capital Markets partner Apostolos Gkoutzinis and associates Marwa Elborai, Kara Major, Ana Grbec, and Arthur Ravignon; and Tax partner Kristen Garry and associate Mary Jo Lang. Associates David Plattner and Caitlin Ludwigsen provided assistance related to corporate matters. Trainee solicitor Rosie Boyle also provided assistance.