NTL takes up high-yield reins

News

news4-gif

NTL will return to the high-yield market with £800 million equivalent of 10-year senior notes. The bonds, which are sold through new subsidiary NTL Cable, will be issued in euros, sterling and dollars.

NTL emerged from bankruptcy last year after Europe’s largest corporate default. The proceeds will be used to help repay NTL’s £2.785 billion outstanding senior credit facility. NTL is also borrowing £2.425 billion through a syndicated bank loan.

Moody’s and Standard & Poor’s rate the bonds B3/B-

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: