Cableuropa wants to refinance credit facility before year-end

By Sara Rosenberg

New York, July 29 - Cableuropa is in talks with banks regarding refinancing its senior credit facility to extend the maturity and push off amortization requirements, according to a 6-K filed with the Securities and Exchange Commission Thursday.

The refinancing of the existing €750 million credit facility that matures Dec. 31, 2008 is expected to be completed before year-end.

Total debt was about €1.0861 billion as of June 30, and there were about €174.2 million of undrawn funds available under the credit facility.

The company expects to draw on its facility to fund net losses and the build-out of its networks.

Cableuropa is a Madrid, Spain, developer and operator of broadband cable television and telecommunications networks.

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