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Quotes & Info
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| LBTYA > SEC Filings for LBTYA > Form 8-K on 26-May-2009 | All Recent SEC Filings |
26-May-2009
Other Events
Additional Facility U under the UPC Broadband Holding Bank Facility
Liberty Global, Inc. indirectly owns 100% of UPC Broadband Holding B.V. (UPC Broadband Holding). UPC Broadband Holding and the existing Facility M lenders under UPC Broadband Holding's senior secured bank facility (as amended, the UPC Broadband Holding Bank Facility) have agreed in principle to the terms under which (i) approximately €1.2 billion of the existing Facility M commitments will be rolled into a new Facility U, a non-redrawable term loan facility denominated in euros. The Facility M lenders that have agreed to roll their commitments (the Rolling Lenders) will novate their existing Facility M commitments to Liberty Global Europe B.V. (LG Europe), a direct subsidiary of UPC Broadband Holding, and will enter into the new Facility U. LG Europe will be the initial lender under Facility U and will enter into an Additional Facility U Accession Agreement. LG Europe will novate its Facility U commitments to the Rolling Lenders. The final maturity date for Facility U will be the earlier of (i) December 31, 2017 and (ii) October 17, 2013, the date falling 90 days prior to the date on which the UPC Holding Senior Notes due in 2014 are currently scheduled to fall due, if, on such date, such notes are outstanding in an aggregate amount of €250.0 million or more. Facility U will bear interest at a rate of EURIBOR plus 4.00%. The completion of the above transactions is subject to the execution of the additional facility accession agreement, novation certificates and related documentation by the relevant parties.
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