UPC Holding’s €855 Million Debt Buyback

In UK Ropes & Gray, advised on the matter.

Ropes & Gray advised UPC Holding with a team including Robert Haak (Finance), Alexander Robb (Finance), Jane Rogers (Picture – Finance).

UPC Holding announced a successful debt buyback transaction pursuant to a modified Dutch auction process, comprising a concurrent solicitation of offers in respect of outstanding senior notes, senior secured notes and senior secured term loans. Approximately €855 million (equivalent) in aggregate principal amount of notes and term loans were accepted for purchase, allocated across tranches. 

UPC Holding is an international provider of broadband internet, video, fixed-line telephony and mobile communications services to residential customers and businesses in Europe. Its continuing operations comprise businesses that provide residential and business-to-business (B2B) communications services in Switzerland and Slovakia. 

Ropes & Gray finance partners Jane Rogers (Picture) and Rob Haak, with finance associates Felipe Lima, Clara Melly and Priyambada Das, all based in London, advised on the bond aspects of the transaction. Finance partner Alex Robb with finance associate Sean Darling and trainee Adam Wilson, also based in London, advised on the loan aspects of the transaction. 

Involved fees earner: Felipe Barros Lima – Ropes & Gray; Sean Darling – Ropes & Gray; Priyambada Das – Ropes & Gray; Robert Haak – Ropes & Gray; Clara Melly – Ropes & Gray; Alexander Robb – Ropes & Gray; Jane Rogers – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: UPC Holding;

Author: Giulia Di Palma