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Telenet unit to extend debt maturity

Mon Jul 13, 2009 3:07am EDT

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BRUSSELS, July 13 (Reuters) - Belgian cable operator Telenet (TNET.BR) said on Monday its BidCo unit plans to extend the average maturity of its term debt by some 2.1 years.

Existing lenders would have the opportunity to exchange their current participation for a participation in new tranches with extended maturities, the group said. The extension offer will close on July 30, 2009 Telenet said, adding that the transaction would further improve the stability of the group's debt capitalisation.

BNP Paribas (BNPP.PA) and J.P. Morgan (JPM.N) have been appointed joint bookrunners, Telenet said.

Telenet, the largest broadband cable service provider in Belgium focuses on offering cable TV, high-speed Internet and telephone services to customers principally in the Flemish part of Belgium. (Reporting by Antonia van de Velde; Editing by Greg Mahlich)



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