UPCB to redeem $750 million 7¼% notes due 2021, 10% of 6 7⁄8% notes

By Susanna Moon

Chicago, July 25 – UPCB Finance V Ltd. plans to redeem its $750 million of 7¼% senior secured notes due 2021, and UPCB Finance VI Ltd. called 10% of its $750 million 6 7/8% senior secured notes due 2022.

The 7¼% notes will be redeemed on Aug. 24 at 103% of par for 10% of the original principal amount plus any additional amounts and accrued interest to the redemption date and, for the remainder, at par plus a premium plus any additional amounts and accrued interest to the redemption date, according to a notice.

The 6 7/8% notes have been called for redemption on Aug. 24, with 10% of the original principal amount to be redeemed at 103 plus any additional amounts plus accrued interest to the redemption date, according to a separate notice.

The record date for both calls will be Aug. 23.

Bank of New York Mellon is the trustee.

The issuers are special-purpose finance vehicles that operate as subsidiaries of UPC Holding BV, a Schiphol-Rijk, Netherlands-based provider of video, broadband internet and fixed-line telephone services in Europe and Chile.

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