Ziggo Proposes New Financing
September 15 2016 - 1:43AM
Business Wire
- Ziggo Secured Finance B.V. Proposed
Senior Secured Notes Offering
- Ziggo Bond Finance B.V. Proposed
Senior Notes Offering
Ziggo Secured Finance B.V. today announced its intention to
offer, subject to market and other conditions, €2,575,000,000
(equivalent) aggregate principal amount of senior secured notes due
2027, which may be denominated in euro or US dollars, and Ziggo
Bond Finance B.V. today announced its intention to offer, subject
to market and other conditions, $625,000,000 aggregate principal
amount of senior notes due 2027.
A portion of the proceeds of the offering of the notes will be
on-lent on the issue date to subsidiaries of Ziggo Group Holding
B.V. for purposes of refinancing indebtedness of Ziggo Group
Holding B.V. and its subsidiaries (the “Ziggo Group”). The
remainder of the proceeds will be held in escrow pending
consummation of the previously announced 50-50 joint venture
between Liberty Global Europe Holding B.V. and Vodafone Group plc,
which will combine Ziggo Group Holding B.V. with Vodafone’s mobile
business in the Netherlands (the “Joint Venture”). The escrowed
proceeds will be released from escrow upon the satisfaction of
certain conditions, and may in certain circumstances be released
whether or not the Joint Venture is completed. Upon release, the
escrowed proceeds will be on-lent to the Ziggo Group and may be
used to fund a dividend, distribution or other payment to Ziggo
Group Holding B.V. (in the event the Joint Venture is completed),
to refinance indebtedness of the Ziggo Group, to pay fees and
expenses of the offering and for general corporate purposes of the
Ziggo Group.
The final principal amount, coupon and other terms of the notes
will be determined at the time of pricing of the offering.
The notes proposed to be offered have not been registered under
the Securities Act of 1933, as amended (the “Securities Act”), or
any state securities laws and may not be offered or sold in the
United States or to any U.S. persons absent registration under the
Securities Act, or pursuant to an applicable exemption from, or in
a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
be offered only to "qualified institutional buyers" under Rule 144A
of the Securities Act or, outside the United States, to persons
other than "U.S. persons" in compliance with Regulation S under the
Securities Act. This press release is for informational purposes
only and shall not constitute an offer to sell nor the solicitation
of an offer to buy the notes or any other securities. The
offering of the notes will not be made to any person in any
jurisdiction in which the offer, solicitation or sale is
unlawful.
Forward Looking Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements about whether or not we will offer the
notes or consummate the offering, the anticipated terms of the
notes and the offering, and the anticipated use of the proceeds
from the offering. These forward-looking statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by these statements,
including the failure to consummate the notes offering and
potential changes in market conditions that could cause actual
results to differ materially. We expressly disclaim any obligation
or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
our expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
About Ziggo
Ziggo is the leading communications and entertainment services
provider for consumer and businesses across the Netherlands. Ziggo
serves 9.7 million subscriptions to its customers: 4.0 million
video, 3.1 internet and 2.5 million fixed telephony service
subscribers. In addition, Ziggo supplies 207,000 subscribers with
mobile telephony and customers have access to over 2 million
WifiSpots across the Netherlands (Q2 2016). The company’s products
and services for the small and large business markets consists of
data communications, (mobile) telephony and electronic payment
systems.
Ziggo is part of Liberty Global, the world’s largest
international TV and broadband company, with operations in more
than 30 countries across Europe, Latin America and the Caribbean.
Liberty Global's consumer brands include Virgin Media, Ziggo,
Unitymedia, Telenet, UPC, VTR, Flow, Liberty, Mas Movil and
BTC.
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version on businesswire.com: http://www.businesswire.com/news/home/20160914006492/en/
ZiggoInvestor Relations:Oskar Nooij, +1 303 220
4218orChristian Fangmann, +49 221 8462 5151orJohn Rea, +1 303 220
4238orCaspar Bos, +31 88 717 4619orCorporate
Communications:Matt Beake, +44 20 8483 6428orAndrew Mitchell,
+44 79 4628 6586
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