Orion Cable announces €365 million PIK facility

By Michelle Anderson

Rochester, N.H., March 26 - Orion Cable GmbH will offer up to €365 million in a PIK facility through its parent company, Escaline Sarl, according to a press release.

Details of the deal were not addressed, however, proceeds will be used to buy preference shares of Orion and ordinary shares of Escaline, to repay existing PIK debt and to finance the possible acquisitions of other cable operators such as PepCom GmbH and PrimaCom AG as well as other smaller companies.

Orion Cable is an Augsburg, Germany-based cable system operator.

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