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Kabel Deutschland announces €800 million of senior secured loans

Paul Thomason, Chief Financial Officer of Germany’s largest cable network operator Kabel Germany Holding AG has informed the Supervisory Board that he his management contract when it expires 31 March 2012 do not want to prolong for personal reasons in order to face new challenges in his native United States. The company has already begun the search for a suitable candidate. Paul Thomason will support this process and the handover to his successor personally.

Kabel-Deutschland-announces-€800-million

Tony Ball, chairman of the Supervisory Board, said: “On behalf of the Supervisory Board and the Management Board I would like to thank Paul for his outstanding contribution to cable Germany success. In the eight years as Managing Director of Finance and Chief Financial Officer is cable Germany has grown from a one-product provider to a modern media and telecommunications companies. Cable Germany is now a solid financed MDAX value with a market capitalization of around four billion euros. We regret that Paul Thomason will leave cable Germany next year and wish him and his family all the best for the future. We thank Paul for his support in the search for a successor and for a smooth transition. “

Kabel Deutschland’s CFO to step down next year

Simultaneously Adrian v. Hammerstein (CEO), Manuel Cubero (Chief Operating Officer) and Erik Adams (Chief Marketing Officer) have their contracts extended until 31 March 2013. Kabel Deutschland (‘KD’ or ‘the Company’), Germany’s largest cable operator, announced today that it plans to raise €800 million of new senior secured floating rate loans and fixed notes to refinance all of its remaining €515 million PIK loans (pro forma as of April 7, 2011), drawings under its existing RCF and other existing loan maturities. The facilities will be borrowed by KDVS and will rank pari-passu with the existing Senior Facilities. Concurrently with the refinancing, KD will also extend the portion of its revolving credit facility which matures in March 2012 to June 2015. The refinancing will enable KD to fully refinance its existing PIK loans, further reduce interest expense and extend its maturity profile.


Kabeldeutschlandsky.com is a website that collects various types of cables from various sources on the Internet. There are Kabel Deutschland, BW, HDMI, TV, USB, Receiver, DSL Speedtest

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