Kabel Deutschland wraps syndication of €400 million six-year term loan

By Sara Rosenberg

New York, Dec. 13 - Kabel Deutschland Holding AG successfully completed the syndication of its €400 million six-year term loan, according to a news release.

BNP Paribas and JPMorgan acted as the bookrunners on the deal.

Pricing on the loan is Euribor plus 400 basis points, and it was sold at an original issue discount of 993/4.

During syndication, pricing was tightened as a result of strong oversubscription.

Proceeds will be used to retire the company's €226 million and $145 million senior notes due 2014. The redemption will settle on Jan. 7.

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

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