Shearman & Sterling represented a syndicate of lenders in connection with the €280 million senior facilities and the €85 million second lien facility provided to PrimaCom Holding GmbH primarily to refinance certain of its existing indebtedness. The facilities are guaranteed and secured by the material subsidiaries of PrimaCom.
PrimaCom is the fourth largest cable network operator in Germany. The new funding arrangements will lower its financing costs and provide funding for further expansion.
The Shearman & Sterling team of lawyers in London and Frankfurt was led by Finance partners Peter Hayes and Winfried Carli and included counsel Matthias Weissinger, senior associate Philip Stopford, associates Tim Waterson and Andreas Breu and trainee solicitor Thomas Jones. The second lien lenders were separately advised by Finance partners Clifford Atkins and Mei Lian. Finance partner James Duncan and associate Sara Couling advised on hedging matters. Counsel Simon Letherman and associate Elizabeth Emerson advised on tax matters.