Kabel Deutschland seeks loan amendment to modify covenants

By Sara Rosenberg

New York, Feb. 10 - Kabel Deutschland GmbH is looking to amend its credit facility to revise certain covenants beginning in December 2010, according to a news release.

Specifically, the company wants to increase the senior net debt to EBITDA covenant for Dec. 31, 2010 to Dec. 31, 2011 to accommodate projected growth.

In addition, the amendment would extend covenants until March 2013 in order to cover the maturity of all senior term loans outstanding.

Lenders representing about 40% of the credit facility by value have already confirmed support for the amendment.

Consents are due by Feb. 25.

Kabel Deutschland is an Unterfoehring, Germany-based operator of cable networks.

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