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Unitymedia reports exchange offer results for four notes series
By Jennifer Chiou
New York, May 2 - Unitymedia companies announced the results in the exchange offers for several series of notes that ended at 11:59 p.m. ET on April 30.
Unitymedia Hessen GmbH & Co. KG and Unitymedia NRW GmbH offered to issue new notes with similar terms in exchange for the following:
• Any and all of the €800 million of 7½% senior notes due 2019 of Kabel BK GmbH;
• Any and all of Kabel's $500 million of 7½% senior notes due 2019; and
• Any and all of Kabel's €420 million of senior secured floating-rate notes due 2018.
Unitymedia GmbH offered to issue new notes with similar terms in exchange for any and all of the €680 million of 9½% senior notes due 2021 of UPC Germany HoldCo 1 GmbH.
The offers began on April 3.
The German cable firm received the following tenders for exchange: €735,096,000 of the 7½% senior notes due 2019; $459,328,000 of the 7½% notes with a 93% aggregate principal exchange amount; €395,867,000 of the floaters; and €617,972,000 of the 9½% notes with a 91% aggregate principal exchange amount.
According to a news release, the issuers have accepted for exchange all tendered notes.
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