Kabel Deutschland to launch $500 million term loan on Wednesday

By Sara Rosenberg

New York, Jan. 17 - Kabel Deutschland Holding AG is scheduled to hold a bank meeting on Wednesday in New York to launch a proposed $500 million seven-year senior secured term loan, according to a market source.

Goldman Sachs & Co., BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and RBS Securities Inc. are the mandated lead arrangers on the deal.

The new loan will be issued as a tranche under the company's existing senior credit facility.

Proceeds will be used to repay a portion of the existing term loan A due in March 2012, term loan C due in March 2013 and term loan A-1, term loan A-2 and term loan C-1 due in March 2014.

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

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