05.12.2005 – 17:45
euro adhoc: PrimaCom AG
Closing has taken place today
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
The company reports that the closing has taken place today. The financial restructuring of the company has successfully completed after nearly one and a half year of tough negotiations. The following, important components form the basis of the closing:
1. The sale of Dutch subsidiary N.V. Multikabel Alkmaar for EUR515 million to the Amsterdamse Beheer-en Consultingmaatschappij B.V. and Christine Beheer-en Adviesmaatschappij B.V., companies. 2. The repayment of the settlement with the Second Secured Lenders in the amount of EUR375 million. 3. The repayment of the Senior Lenders liabilities in the amount of EUR462 million.
The new financing will be made through a senior credit from ING Bank N.V. in the amount of EUR280 million plus an overdraft of EUR20 million and a mezzanine financing from Och Ziff Management in the amount of EUR69 million. The whole financing was granted to the company in line with the market conditions. In the course of the new financing, a renowned auditing company reported positively on the financial health of the company. The future of the company is secured with these closing transactions.
PrimaCom AG Management Board
end of announcement euro adhoc 05.12.2005 17:12:20
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Branche: Telecommunications Equipment
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