UPC Holding bonds to stay in place following sale of UPC Switzerland to Sunrise Communications

New York, Feb. 27 – UPC Holding bonds will remain in place following the sale of UPC Switzerland to Sunrise Communications Group AG, according to a news release.

UPC Switzerland is being sold by parent company Liberty Global plc for a total enterprise value of CHF 6.3 billion.

Sunrise will acquire the business inclusive of UPC Holding’s existing senior and senior secured notes and associated derivatives and certain other debt items, which have an aggregate value equal to about CHF 3.7 billion at Dec. 31.

As the transaction is structured, a change of control will not be triggered under the notes.

Closing of the sale is expected prior to year-end, subject to regulatory approval.

Liberty Global is a television and broadband company.

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