UPC Broadband Holding launches $500 million term loan AF to investors

By Sara Rosenberg

New York, Nov. 15 - UPC Broadband Holding B.V. held a conference call at 11 a.m. ET on Thursday to launch a $500 million first-lien term loan AF (Ba3/BB-) due Jan. 31, 2021, according to market sources.

J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and Citigroup Global Markets Inc. are the lead banks on the deal.

The loan is talked at Libor plus 300 basis points with a 1% Libor floor and an original issue discount of 993/4, sources said.

There is 101 soft call protection for one year.

Proceeds will be used to refinance an existing facility AB.

UPC is a subsidiary of Liberty Global, an Englewood, Colo.-based provider of video, voice and broadband Internet services.

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